Chief Executive Officer and Director of the Company Patrick P. Gelsingerworked at EMC as President and COO of EMC Information Infrastructure Products from September 2009 to August 2012. After that, he became part of VMware and has been part of corporate news.
After serving as Co-General Manager and Senior Vice President of Intel’s Digital Enterprise Group from 2005 to September 2009 and as Senior Vice President and Chief Technology Officer of Intel Corporation from 2002 to 2005, Mr. Gelsinger left Intel to join EMC. Mr. Gelsinger oversaw Intel’s Desktop Products Group before that.
Mr. Gelsinger brings insight and knowledge of our operations and strategic opportunities to our Board as CEO of VMware, where he has extensive knowledge of our industry. Furthermore, Mr. Gelsinger has extensive experience working on executive management teams for big-name information technology companies, which gives our board significant knowledge on various topics crucial to our operations.
What is Gelsinger’s net worth?
Patrick Gelsinger, the CEO of Intel Corp., is thought to have a net worth of about $82.99 million currently. Patrick Gelsinger owns about 210,481 shares of common stock in Intel Corp. Patrick Gelsinger has sold goods with an estimated market value of $9.55 million over the past 13 years at Intel Corp.
According to Form 4 submitted to the SEC, Patrick has traded VMware stock over 44 times since 2005. On September 22, 2022, he most recently exercised 13,064 VMW stock units worth $1,384,131.
His most significant transaction was the exercise of 185,000 VMware shares on July 21, 2006, which was worth over $2,207,050. Since 2005, Patrick has traded 11,588 units every 53 days on average. He still holds at least 90,280 units of VMware stock as of September 22, 2022.
Pat Gelsinger’s Role In Intel
Pat Gelsinger, the CEO of Intel, attended President Joe Biden’s State of the Union address as a guest and was recognized for Intel’s $20 billion investment in an Ohio factory, as well as for the company’s approximately $88 billionin reviving the European supply chain and its $100 million pledge to semiconductor education and research.
Gelsinger has about his plans to restore Intel to its former glory, but he hasn’t spoken as much about the people who will assist him in carrying out his plan. Gelsinger was asked about who worked at Intel from 1979 to 2009 before returning as CEO in February 2021 to join him on a LinkedIn Live in recognition of International Women’s Month so we could talk about Intel’s culture and the importance of diversity and inclusion in innovation.
Intel, under Gelsinger, has made significant efforts to promote the advancement of women in technology. Women make up more than 30% of Intel’s executive team. Intel is also a member of the Alliance for Global Inclusion, a group established in 2021 to advance transparent reporting and better diversity and inclusion practices in four key areas: inclusive language, product development, leadership representation, and STEM readiness in undeserved communities.
The Challenge of a Turnaround
Generally, two options are available to you when taking over a failing business. One is to liquidate as many of the company’s assets as possible, fire as many employees as possible, and then package the company for sale either as a whole or for its assets. The latter strategy is taken by operators like Carl Icahn and has proven to be very profitable, but even he acknowledges that the system is flawed.
Louis Gerstner, Lisa Su of AMD, Steve Jobs, and Michael Dell all chose the first route and successfully turned around their respective businesses into formidable organizations. In addition, customers, staff members, and regular investors benefited from their strategy because they, unlike hedge fund managers and corporate robbers, believe in generating long-term value and leaving a positive legacy.
Ironically, according to my research, executives who emphasize financial benefits tend to have few genuine friends, go through several marriages, and have kids who value money more than they value their parents.
CEOs who prioritize their companies’ success over their gain are more well-liked by the general public, have more stable family ties, and maintain good reputations even after passing away.
CEOs who sell out their companies ought to be held accountable, and those who take the personal risks necessary to save them should be rewarded. But frequently, as it is right now with Intel, it seems that the opposite is taking place. It is because most stockholders in publicly traded companies aren’t making the same long-term investments they once did. Instead, they are merely looking for a quick way to make money, frequently at the expense of the business.
It is acknowledged that a turnaround CEO might not make it through the period required to save the business. However, a CEO who dismantles the business and profits from consuming its assets will become extremely wealthy—but at the expense of the people whose interests the position is meant to serve.
