Feb. 3 (Bloomberg) — Intel Corp., the world's largest chipmaker, said it will require more executives to own stock and tie bonuses to operating goals, moves aimed at connecting pay more closely with the company's financial performance.
Starting this year, 350 senior leaders will have to own specified amounts of shares, the Santa Clara, California-based company said today in a letter to shareholders. That's up from the 50 executives covered under existing guidelines.
Intel said it is changing its pay structure following input from investors, seeking to align its compensation with the interests of shareholders. Intel's stock rose 26 percent last year, compared with a 30 percent gain in the Standard & Poor's 500 Index. Sales slipped for a second straight year. The rules are being instituted under Chief Executive Officer Brian Krzanich, who was promoted to the company's top job in May.
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