Intel Corporation Appoints New Chief Accounting Officer
Intel Corporation, a leading technology company, has filed a FORM 8-K with the Securities and Exchange Commission announcing the appointment of Scott Gawel as its new Chief Accounting Officer, effective July 6, 2022. In this role, he will serve as Intel's principal accounting officer, overseeing the company's financial reporting and accounting functions. Gawel joins Intel from Oracle Corporation, where he served as Senior Vice President and Corporate Controller from 2020 to 2022. He brings extensive experience in accounting and finance, having held various positions at Oracle since 2004.
Key Takeaways:
- Scott Gawel, a 51-year-old finance expert, has been appointed as Intel's new Chief Accounting Officer, effective July 6, 2022.
- Gawel joins Intel from Oracle Corporation, where he served as Senior Vice President and Corporate Controller from 2020 to 2022.
- His base salary will be $475,000, and he will be eligible for an annual incentive cash bonus with a target amount of $475,000 under Intel's Executive Annual Performance Bonus Plan.
- Gawel will be granted an annual equity award of restricted stock units ("RSUs") with a target value of approximately $1,500,000.
- He will receive a cash bonus of $2,500,000, payable in three annual installments, with the first payment being made within 30 days of the effective date.
- Gawel's equity awards will be subject to the terms and conditions of Intel's 2006 Equity Incentive Plan.
Statistics:
- Gawel's base salary: $475,000
- Target annual incentive cash bonus: $475,000
- Target value of annual equity award of RSUs: $1,500,000
- Total cash bonus: $2,500,000
- Number of annual installments of cash bonus: 3
- Number of days for first payment: 30
Sources:
- United States Securities and Exchange Commission - FORM 8-K, Item 5.02, dated June 22, 2022