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.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.