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Intel tightens executive pay as PC demand slows

04
Feb
2014

By Noel Randewich SAN FRANCISCO (Reuters) – Intel Corp, wrestling with shrinking personal computer sales and struggling to expand into mobile devices, said on Monday it was tightening its compensation policy to make senior executives more accountable. The steps to push executives to perform better were the latest indication that Chief Executive Officer Brian Krzanich, who took over almost a year ago, is streamlining the chipmaker in the face of slow demand. Performance-based equity awards for senior executives will no longer have a minimum value and can fall to zero if shareholder returns do not meet thresholds, Intel said in a letter to stockholders on Monday. As well, Intel will require its 350 most senior executives to own company stock.

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