Intel CEO gets $18.9M pay package in final year

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Associated Press

Posted on April 3, 2013 at 1:02 PM

Updated Wednesday, Apr 3 at 1:02 PM

SAN FRANCISCO (AP) — The value of Intel CEO Paul Otellini's pay package rose 10 percent to $18.9 million last year as he prepared to retire. His departure next month follows a tough year during which Intel Corp. stumbled as the growing popularity of mobile devices reduced demand for the company's personal computer chips.

Otellini's uptick in compensation disclosed Wednesday stems mostly from the amount of stock awards and options Intel gave him last year. Those could end up being worth more or less than the company's estimates, depending on how Intel's recently slumping stock fares in the future.

Intel trimmed the cash portion of Otellini's incentive pay by 19 percent to $5.23 million.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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