"Exactly when did Barrett take over from Grove? I believe the price of INTC was much higher than it now stands. Why should Barrett be able to profit enormously when he has not truly created wealth for INTC shareholders? "
First, these answers are readily findable.
Second, it depends on what is meant by "take over from Grove." Barrett became chief operating officer (COO) in 1993, President in 1997, and assumed CEO status in March 1998.
Third, the stock price in 1993, when Barrett essentially made all operational decisions, was around $2.90-$4.50. His running of the company from 1993-1997 was positive. At the time Barrett became CEO in March 1998, Intel was $19.31. This was two years before the start of the tech recession.
Fourth, your notion about who "gets to profit" misses the issue of who _owns_ stock. If Barrett owns millions of shares of stock (easy to check...left as an exercise for you), he is free to sell as he wishes, subject only to SEC rules about disclosure.
Fifth, you are free to buy enough shares to have your vote have him removed and replaced by someone more like Jerry Sanders.
--Tim May |
