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Intel Shareholders Approve CEO Compensation and Equity Incentive Plan Amid Leadership Shift

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Intel shareholders on Tuesday approved a new equity incentive plan designed to bolster stock reserves for attracting and retaining talent, as well as a $42 million stock-based compensation package for newly appointed CEO Lip-Bu Tan. The vote took place during the company’s first shareholder meeting under Tan’s leadership.

Intel shares fell 1.6% in early trading, extending a 36% decline over the past year, as investors digest the company’s ongoing leadership and strategic shifts.

Tan, who succeeded Pat Gelsinger in March after the board lost confidence in his high-cost turnaround efforts, will have his compensation tied to Intel’s future stock performance. Tan has already initiated a restructuring plan, which includes flattening the corporate hierarchy, cutting excess middle management, and recalibrating Intel’s artificial intelligence roadmap.

Shareholders also approved the current board of directors, although three members did not seek re-election. Meanwhile, three shareholder proposals were rejected, including:

  • A call to reassess Intel’s operations in Israel,

  • A demand for new charitable giving transparency, and

  • A proposal to allow shareholders to act by written consent.

Tan said he plans to capitalize on Intel’s established positions in the PC and data center markets to deliver more competitive AI products, signaling a strategic refocus in an increasingly crowded chip landscape.

Italy to Nominate Top Economy Ministry Official to STMicroelectronics Supervisory Board

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Italy plans to appoint Marcello Sala, a senior official from its economy ministry, to the supervisory board of semiconductor giant STMicroelectronics, according to three sources familiar with the matter. Sala heads the department that oversees state-run firms and asset disposals, and his nomination is seen as part of Italy’s effort to gain greater influence over the chipmaker amid internal concerns about company leadership and job cuts.

STMicroelectronics, jointly owned by the French and Italian governments through a 27.5% stake in a holding company, is currently navigating a challenging environment due to weak performance in its key automotive and industrial sectors. The group employs around 50,000 people globally.

. Supervisory Shake-Up Amid CEO Criticism
Alongside Sala, Italy is also expected to nominate Simonetta Acri to the supervisory board, replacing outgoing members Maurizio Tamagnini and Donatella Sciuto. The proposed changes, once formalised, will require approval from STMicroelectronics’ supervisory board and shareholders during the general meeting scheduled for May.

One of the sources said Italy’s move comes amid dissatisfaction with current CEO Jean-Marc Chery, who has led the company through a rough patch marked by declining market demand. The supervisory board’s role is to provide policy oversight and strategic guidance to the board of directors.

. Closer Government Oversight and Labor Concerns
The Italian government is especially keen on getting a clearer picture of STMicroelectronics’ $300 million cost-cutting initiative, which includes a potential reduction in headcount. Italian labor unions have raised alarms about the possibility of over 2,000 job cuts, prompting Economy Minister Giancarlo Giorgetti and Industry Minister Adolfo Urso to call for a meeting with company and union representatives on April 3.

Marcello Sala, known for his involvement in sensitive state asset deals—including the reduction of Italy’s stake in Monte dei Paschi di Siena—will not immediately step down from his ministry role. His possible dual responsibilities underscore Rome’s intent to exert stronger oversight over critical strategic industries.

. Broader Influence in Corporate Italy
Sala is also in consideration for the chairmanship of payments group Nexi, where state investment arm Cassa Depositi e Prestiti is a major shareholder. The move reinforces the Italian government’s ongoing strategy to place key figures in influential positions across strategic sectors such as tech, banking, and digital infrastructure.

. Background Political Ties
Notably, current STMicroelectronics board member Paolo Visca previously served as chief of staff at the industry ministry during Giorgetti’s earlier tenure, reflecting the long-standing political ties influencing appointments within the group.

The developments at STMicroelectronics highlight Italy’s broader push to assert more control over strategic corporate decisions in industries critical to the nation’s economic and technological future.

Taiwan’s Legacy Chip Industry Faces Competition as China Expands Market Share

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Taiwan’s legacy chipmakers, once dominant in the production of mature node chips, are grappling with increased competition from Chinese foundries that are rapidly expanding their market share. The shift began in 2015 when Taiwan’s Powerchip Technology entered a deal with China’s Hefei city to establish a foundry, Nexchip. Initially hoping to access the promising Chinese market, Powerchip now faces Nexchip as a major competitor, leveraging Beijing’s support and steep price discounts. This rivalry is most prominent in the $56.3 billion market for 28-nanometer chips, which are commonly used in sectors like automotive and display panels.

Chinese foundries, including Nexchip, Hua Hong, and SMIC, have aggressively expanded production capacities and undercut Taiwanese prices, further intensifying competition. The increased Chinese capacity has prompted concerns in Taiwan’s chip industry, with Powerchip and other Taiwanese companies like UMC and Vanguard International now focused on more advanced or specialized chip technologies.

Taiwanese chipmakers are struggling to maintain their foothold in the mature node segment as Chinese firms benefit from substantial state backing and lower margins. According to TrendForce, in 2024, China is projected to control 34% of global legacy chip production, surpassing Taiwan’s 43% share by 2027. The situation is made worse by the U.S. trade tensions, with U.S. President Donald Trump proposing up to 100% tariffs on semiconductors produced outside the U.S., which could impact Taiwanese exports.

Chinese foundries have become more aggressive in their efforts to capture business from Taiwanese clients. Many Chinese customers, particularly in consumer sectors like display panels, are increasingly opting to use Chinese fabs, following Beijing’s push for domestic supply chain localization. Taiwanese chip designers have acknowledged that they must adapt to survive, with some already shifting focus to more advanced technologies like 3D stacking, which combines logic and DRAM chips to enhance performance.

Despite the growing Chinese competition, some relief may come from the U.S. efforts to restrict China’s chip industry, particularly in light of rising geopolitical tensions. Taiwanese chipmakers are beginning to receive orders from international clients asking for chips to be made outside of China, a shift away from previous reliance on Chinese foundries.