Intel appointed Lip-Bu Tan chief executive from Mar 18, 2025 on a $1,000,000 initial base salary

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Intel's board appointed Lip-Bu Tan chief executive officer and a director on Mar 10, 2025, effective Mar 18, 2025. Intel said Michelle Johnston Holthaus and David Zinsner would stop serving as interim co-chief executives on that date, with Johnston Holthaus continuing as chief executive of Intel Products and Zinsner as chief financial officer. Under his offer letter, Tan was to receive an initial base salary of $1,000,000 and was eligible for an annual cash bonus with a target of 200% of that salary, and he agreed to buy Intel shares from the company within 30 days of his start date, with a target value of $25,000,000. Intel reported the appointment in an 8-K, a US company's report of a material event, filed Mar 14, 2025.1^,2^,3^,4^,5