this post was submitted on 21 Dec 2024
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I'm not up on corpo shareholder suits in general, but has there been a high-profile case of shareholders demanding the return of salary from CEOs that managed do nothing useful?
Like, did Carly or Leo have to pay HP back for their blunders? Or Marissa at Yahoo? And so on, etc.
Gelsinger didn't do "nothing."
He was clear from day one that it would take years for Intel to recover. It takes a long time for their products to make it to market, especiallyhlwhen they have to buipdnfab facilities. He was essentially fired for his predecessors lingering fuckups.
The biggest product that's launched he actually had some control over was the second generation of Arc, which launced days after he was fired and has been a massive success.
Yeah, I didn't mean to imply he did nothing at all.
He did a good job of pushing node shrinks, and did an awful lot of them awfully fast.
Though, my vibe is he was probably fired because he had the unfortunate issue of being an engineer and didn't really have the ability to stay in proper CEO-speak and was talking and causing a LOT of damage to Intel with what he said, when, and to whom.
A good example is shitting on TSMC while being entirely reliant on them for client chips. The CEO thing would have been to just shut up and say how much you like working with them and how great the partnership is but uh, that's not what he did.
Tbh I think a big part of the reason they’re targeting gelsinger is because he’s not from the financial boys club.
That said, I still don’t have a much of sympathy for him at all. He handled the lithography fiasco hilariously poorly, amongst many other things, and there’s no way his salary (or the salaries of the vast majority of CEOs in general) are justified