8-KLeadership ChangesRegulation FD

INTEL CORP 8-K Report, Executive Changes (Nov 16, 2007)

Filed November 16, 2007For Securities:INTC

Summary

Intel Corporation (INTC) filed an 8-K on November 16, 2007, reporting a key development in its Board of Directors. The most significant event is the election of Carol Bartz as a new director, effective January 16, 2008. Ms. Bartz brings extensive experience, having served as Executive Chairman and previously as CEO and President of Autodesk, Inc. She also currently sits on the boards of Cisco Systems, Inc. and Network Appliance, Inc. Her appointment is structured with standard compensation for non-employee directors, including an annual retainer and committee fees. Additionally, she will receive a grant of restricted stock units valued at $72,500 in January 2008, which will vest over three years. The company will also enter into its standard director indemnification agreement with Ms. Bartz. This addition to the board signifies a potential strategic move by Intel, leveraging Bartz's leadership background.

Key Highlights

  • 1Intel Corporation elected Carol Bartz as a new member of its Board of Directors, effective January 16, 2008.
  • 2Carol Bartz has a strong background, including her role as Executive Chairman of Autodesk, Inc., and prior CEO and President positions at Autodesk.
  • 3Ms. Bartz is an existing director at Cisco Systems, Inc. and Network Appliance, Inc.
  • 4She will receive standard compensation for non-employee directors, including an annual retainer and potential committee fees.
  • 5Ms. Bartz will be granted restricted stock units valued at $72,500 in January 2008, vesting over three years.
  • 6Intel will enter into a standard director indemnification agreement with Ms. Bartz.

Frequently Asked Questions

Carol Bartz is a seasoned executive with significant experience in the technology sector. She was the Executive Chairman of Autodesk, Inc. from April 2006 and previously served as its Chairman, CEO, and President from April 1992 to April 2006. She also serves as a director for Cisco Systems, Inc. and Network Appliance, Inc.

Ms. Bartz's election to the Board of Directors is effective January 16, 2008.

Ms. Bartz will receive the standard compensation for Intel's non-employee directors. This includes an annual retainer and committee fees, which will be pro-rated based on her start date. Additionally, she will receive a grant of restricted stock units valued at $72,500 in January 2008, with shares vesting ratably over the first three anniversaries of the grant date.

The appointment of Carol Bartz, a well-respected executive with a strong track record in the software industry (Autodesk) and experience on other major tech boards (Cisco, Network Appliance), could signal a strategic direction for Intel. Her leadership experience may bring valuable insights and guidance to the company's future strategies and operations. Investors often view new director appointments, especially those with significant experience, as a positive sign of board refreshment and strategic planning.