Base Salary for Intel's New CEO Set at $1 Million

U.S. chipmaker Intel announced in a regulatory filing on Friday that its new CEO, Lip-Bu Tan, will have an initial base salary of $1 million. Tan, who assumes the role on March 18, will also be eligible for an annual cash bonus of up to 200% of his base salary. Tan was appointed CEO on Wednesday, leveraging his extensive expertise in the chip industry and background as a technology investor in startups. Intel is currently navigating a significant transition phase as it aims to overcome a challenging period in its history.