Intel Corporation (NASDAQ:INTC) shareholders have a chop on their shoulders about executive remuneration packages, based on a regulatory filing by the tech giant yesterday.
Shareholders voted almost two to one in opposition to the compensation packages for the computer chip leviathan’s top management, including a package worth US$178.6mln to chief executive officer Pat Gelsinger.
Votes on remuneration packages at annual general meetings are non-binding but send a message to the remuneration committee.
Intel said in a statement that it had taken steps to address various shareholder concerns, including linking pay to performance, but conceded “there is clearly more work to do”.