Paul Otellini's compensation for 2011 has grown in line with Intel's gains in operating profit.
The CEO received a total compensation of $16.7 million for the year, which was up 11 percent year over year. The company's operating profit jumped by 12 percent from 15.6 billion to $17.5 billion between 2010 and 2011. Intel reported a record result for 2011 with revenues surpassing $50 billion and landing at $54.2 billion for the first time in the firm's history.
According to an SEC filing, Otellini's stock awards increased by 18 percent to a total of $7.3 million and option awards came in at an additional $1.8 million (+67 percent). Otellini's base salary was increased from $1 million to $1.1 million for the year. The higher CEO pay is also justifiable via Intel's stock performance as Intel shares gained about 15 percent in 2011.
Among other key executives, the highest compensated corporate officers are CFO Stacy Smith with a total pay of $6.1 million, vice chairman of the board Andy Bryant with $8.1 million, chief product officer David Perlmutter with $6.5 million and general counsel Douglas Melamed with $5.3 million.