this post was submitted on 05 Dec 2024
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Hardware

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Shareholders pay up as Intel ex-CEO Pat Gelsinger is reportedly set to depart with a $12 million golden handshake (www.tomshardware.com)
submitted 3 weeks ago by Alphane_Moon to c/hardware
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[–] Alphane_Moon 30 points 3 weeks ago (1 children)

$12 million for getting fired. One has to wonder what sort of incentives this creates.

[–] Skullgrid 15 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

They're corrupt assholes etc, but I'm pretty sure the 12m is a pittance compared to the shit they'd get as CEO. I doubt any CEO is there going "yeah, can't wait for my golden handcuffs to kick in for that free 12m" , they're instead spending time jet setting using the company plane to japan for lunch and france for dinner.

EDIT : The golden handcuffs are there to basically disincentivise the company from replacing the CEO

[–] Alphane_Moon 1 points 3 weeks ago

Agreed, none of those types are trying to cash in on the golden parachute, they can get more via other means.

I meant this in a broader sense; a lack of any kind of market incentives for negative or disruptive behaviour.

[–] [email protected] 7 points 3 weeks ago

He should take a trip to New York before he departs the organization