Intel CEO Will Get Annual Review
Bloomberg News
Intel Corp. will have its independent directors review the chief executive’s performance yearly as investors scrutinize how closely boards watch their companies.
In the past, the CEO of the world’s biggest semiconductor maker received an evaluation from his staff, Chairman Andy Grove said. “By getting such an evaluation from the independent board members, it is going to complete the circle,” he said.
Eight of Intel’s 11 board members come from outside the company, and those independent directors meet twice a year without management. Each also meets with Grove to discuss the performance of the board and company officials.
Shares of Santa Clara, Calif.-based Intel rose 52 cents to $29.59 on Nasdaq.
