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Intel's Barrett gets $3.8m pay packet

12 per cent pay rise

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Intel president and CEO Craig Barrett landed a pay packet of $3.8 million last year.

Barrett's total package was up 12 per cent on the previous year, and included a salary of $575,000 (up from $525,000 in 1999), and bonus of $2.8 million (compared to $2.6 million), according to a proxy statement to shareholders.

Chipzilla also gave Barrett the option to buy 200,000 shares in the company, which expires in 2010.

Barrett exercised options on 558,000 shares last year worth $27.7 million.

For the year ended December 30, 2000, Intel reported earnings of $12.1 billion, up on the previous year's $8.1 billion.

Earlier this year it warned first quarter sales for 2001 would be around ten per cent lower than normal due to "seasonal factors and the impact of slowing worldwide economies". ®

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Intel statement

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