Intel's newly appointed CEO, industry veteran Lip-Bu Tan, is set to receive a base salary of $1 million, with the potential to earn up to $2 million in bonuses each year, according to a regulatory filing. Additionally, he is eligible for about $66 million in stock options and grants tied to his performance over the next few years.

Intel, the US-based chipmaking giant, has named industry veteran Lip-Bu Tan as its new CEO, effective March 18. The appointment comes as Intel seeks to recover from one of its most challenging periods, marked by declining market share, falling stock prices, and intense competition in the semiconductor industry.