Intel shareholders reject repayment applications for best executives

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Might 16 (Reuters) – Intel Corp (INTC.O) shareholders rejected repayment applications for best executives, together with a payout of up to $178.6 million to Leader Government Officer Pat Gelsinger, a regulatory submitting confirmed on Monday.

About 1.78 billion votes had been forged in opposition to government repayment at the yearly assembly, Intel stated, despite the fact that the vote is non-binding. About 921.2 million votes had been forged in choose.

“We take our traders’ comments very significantly, and we’re dedicated to enticing with them and addressing their issues,” Intel stated in a remark.

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The corporate stated it had taken explicit steps to handle investor questions, together with linking pay to efficiency however added “there may be obviously extra paintings to do”.

Gelsinger earned greater than 1,700 instances the standard worker on the chip large in 2021, in step with a regulatory submitting in March. learn extra

Intel forecast its second-quarter earnings and benefit underneath Wall Side road expectancies in April, mentioning susceptible call for in its biggest marketplace, PCs, and higher supply-chain uncertainty because of recent COVID-19 lockdowns in China. learn extra

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Reporting through Ananya Mariam Rajesh in Bengaluru; Enhancing through Anil D’Silva

Our Requirements: The Thomson Reuters Believe Ideas.

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