But this does not obligate anyone to anything.
Shareholders usually evaluate the performance of the management of a public company by voting for or against the amounts of compensation assigned at the end of the year for their work. In the case of Intel Corporation, as reported Reuters citing official documentation, the compensation assigned to management was not approved by the majority of shareholders.
Image Source: Reuters
CEO Patrick Gelsinger is expected to receive $178.6 million last year, more than 1,700 times more than the typical company employee. Perhaps such a bias, which, although not something exclusively characteristic of Intel, caused discontent among the company’s shareholders. As a result, 1.78 billion votes opposed the amount of compensation payable to management at the end of 2021, while only 921.2 million voted in favor.
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The irony is that the results of the shareholder vote do not commit the company to anything in this regard. Intel management only stated that they take the opinion of shareholders very seriously and will work to eliminate any cause for concern on their part.