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Patrick Gelsinger - 1 Brendan Smialowski - 1 Pat Gelsinger - 1 Seth Wenig - 1 Gelsinger - 1 CNBC's Jon Fortt - 1 Intel hasn't - 1 Fortt - 1
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☆ Intel's wild week leaves Wall Street more uncertain than ever about chipmaker's future
  + stars: | 2024-09-21 | by ( Kif Leswing | ) www.cnbc.com   time to read: +6 min
The rally provides little relief to CEO Pat Gelsinger, who has had a tough run since taking the helm in 2021. Intel CEO Pat Gelsinger speaks while showing silicon wafers during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. That prospect would be more palatable to Wall Street if Intel's core business was at the top of its game. Microsoft CEO Satya Nadella said in February that it would use Intel to produce a chip, but didn't provide details. U.S. President Joe Biden listens to Intel CEO Pat Gelsinger as he attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022.
Persons: Patrick Gelsinger, Brendan Smialowski, Pat Gelsinger, Seth Wenig, Gelsinger, CNBC's Jon Fortt, Intel hasn't, Fortt, Satya Nadella, Joe Biden, Joshua Roberts Organizations: Intel, AFP, Getty, CNBC, Qualcomm, Nvidia, AP, U.S, Taiwan Semiconductor Manufacturing Company, Samsung, Apple, Microsoft, Intel Foundry Locations: Chandler , Arizona, New York, Silicon Valley, Poland, Germany, Malaysian, New Albany , Ohio, U.S
☆ Intel's CEO will take a 25% pay cut, as the company attempts to compete with global chip manufacturers and prevent further layoffs
  + stars: | 2023-02-01 | by ( Aidan Pollard | ) www.businessinsider.com   time to read: +3 min
Intel's CEO and members of its executive team will take pay cuts of up to 25%, Reuters reported. Intel told Insider the company is working "to reduce costs across the company." The move aims to free up cash for investments in line with company strategy, Intel said in a statement. Intel's chief executive Pat Gelsinger is taking the largest cut at 25%, while other higher-ups will have their salaries reduced by 5%, 10%, or 15%, per Reuters. It also comes as other companies opt for executive pay cuts in an effort to prevent mass layoffs.
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