Summary
This 8-K/A filing from Intel Corp (INTC) provides an update regarding the compensation for its Interim Co-Chief Executive Officers, Michelle Johnston Holthaus and David Zinsner. Effective March 18, 2025, following the appointment of Lip-Bu Tan as the new CEO, both Ms. Johnston Holthaus and Mr. Zinsner will step down from their interim co-CEO roles. Investors should note that each interim co-CEO will receive a special cash payment of $1,500,000, payable at the end of Q1 2025, as compensation for their service in this capacity. Following this transition, Ms. Johnston Holthaus will resume her role as Chief Executive Officer of Intel Products, and Mr. Zinsner will continue as Executive Vice President and Chief Financial Officer. This amendment clarifies the financial arrangements related to the recent leadership changes.
Key Highlights
- 1Michelle Johnston Holthaus and David Zinsner to receive $1,500,000 each in cash compensation for their service as Interim Co-CEOs.
- 2Compensation payment is scheduled to be made at the end of the first quarter of 2025.
- 3Interim Co-CEO roles will conclude on March 18, 2025, coinciding with Lip-Bu Tan's appointment as CEO.
- 4Michelle Johnston Holthaus will return to her position as Chief Executive Officer of Intel Products.
- 5David Zinsner will continue in his role as Executive Vice President and Chief Financial Officer.
- 6This filing is an amendment (8-K/A) to a prior report concerning their appointment as Interim Co-CEOs.