Incoming Intel Corp. Chief Executive Officer Lip-Bu Tan, who was named to the position this week, will receive compensation valued at about $69 million if he reaches targets over the coming years.

US chipmaker Intel's new CEO Tan Lip-Bu will receive a salary of US$1 million and be eligible for an annual cash bonus of up to US$2 million, the company said in a regulatory filing on Friday (Mar 14).

Intel appointed Lip-Bu Tan as its CEO following the retirement of former CEO Pat Gelsinger in late 2024. In a press release, Intel said Tan will start as its chief executive officer effective March 18,