Intel CEO Krzanich to Relinquish $45 Million by Resigning
- Chipmaker boss quit after violating non-fraternization policy
- He received $24.7 million in awarded compensation last year
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Brian Krzanich stands to lose out on about $45.3 million after resigning as Intel Corp.’s chief executive officer for violating the company’s non-fraternization policy.
Krzanich was employed at will, meaning none of his cash or incentive awards were guaranteed in the event he stepped down voluntarily or was terminated for cause. As a result, he’ll forfeit about $7.8 million of restricted stock that pays out on a quarterly basis, and $37.5 million in performance equity grants made from 2016 to 2018. The values are based on Wednesday’s closing share price of $53.46.