When former CEO Pat Gelsinger abruptly departed this week, Intel revealed on Tuesday that it had agreed to pay him at least $7 million in severance, and perhaps more than $10 million.
In response to growing financial and competitive pressure on the chipmaker, Gelsinger, 63, resigned. Chief Financial Officer David Zinsner and Michelle Johnston Holthaus, who had been in charge of Intel’s PC division, were named as the chipmaker’s two temporary CEOs to succeed him.
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