2023 CEO Compensation: AMD’s Lisa Su Earns Nearly Double Intel’s Pat Gelsinger

In a striking contrast of leadership compensation, AMD’s CEO Lisa Su significantly out-earned Intel’s CEO Pat Gelsinger in 2023, with Su’s total compensation nearly double that of her counterpart. According to Intel’s recently filed proxy statement, Gelsinger’s compensation reached $16.86 million last year, marking a 45% increase from $11.61 million in 2022. This rise came as Intel’s stock surged by over 90%, recovering from a challenging previous year where it dropped nearly 49%. In comparison, AMD experienced an even more remarkable stock performance, with shares increasing by approximately 127.6% in 2023, following a 55% decline the year before.

Breaking Down the Numbers

Gelsinger’s compensation package consisted of a base salary that decreased to $1.07 million from $1.3 million in 2022. However, his stock awards saw a notable uptick, valued at $12.43 million, up from $8.87 million. Additionally, his non-equity incentive plan compensation, which includes performance-related cash bonuses, rose to $2.89 million from $945,900. He also received $112,000 in deferred compensation linked to changes in pension value, a new addition compared to the previous year.

Compensation Components

The “all other compensation” for Gelsinger fell to $362,900 from $497,100, which included retirement-plan contributions and expenses for financial planning. A noteworthy portion of his reported compensation was the cost of a car service used for personal matters, which Intel justified as necessary for his job performance and safety.

Lisa Su’s Earnings

In contrast, AMD’s proxy statement revealed that Lisa Su earned a total of $30.35 million in 2023, a slight increase from $30.22 million the previous year. Her compensation structure included a base salary of $1.2 million, stock awards worth $21.85 million, and option awards totaling $5.84 million. Additionally, her non-equity incentive plan compensation was $1.43 million, with all other compensation amounting to $28,711, which featured contributions to her 401(k) and expenses related to spousal travel on company aircraft for business purposes.

Historical Context

Despite the disparity in 2023 earnings, Gelsinger’s compensation history is noteworthy. After taking the reins at Intel in February 2021, he received a staggering $178.59 million, primarily due to substantial equity awards aimed at attracting top-tier leadership. Since his appointment, Intel’s stock has seen a decline of approximately 28.5%, whereas AMD has enjoyed a 92.5% increase in share value during the same period.

Comparing Industry Giants

The leadership compensation discussion extends beyond just Intel and AMD. Jensen Huang, CEO of Nvidia, another major player in the semiconductor industry, had a total compensation of $21.36 million for the fiscal year ending January 28, 2023, a decrease from the previous year’s $23.74 million. Notably, Nvidia experienced a remarkable stock appreciation of 238.9% in 2023, further highlighting the competitive landscape of the chip manufacturing sector.

As we observe these financial figures, it is essential to consider the broader implications for these companies, their stock performance, and the strategic directions they are taking in an ever-evolving technology market.