Lip-Bu Tan may be one of the most powerful technology executives you've never heard of. As he steps into one of the highest-profile jobs on the planet, CEO of troubled, storied chipmaker Intel, his performance will be on full display.

Together, we will work hard to restore Intel’s position as a world-class products company, establish ourselves as a world-class foundry and delight our customers like never before,” Tan said in a letter to Intel employees on Wednesday.

Intel on Wednesday named former board member and chip industry veteran Lip-Bu Tan as its CEO and signaled the struggling but storied chipmaker was unlikely to split up its chip-design and manufacturing operations.

Intel lured new CEO Lip-Bu Tan with a package of stock grants and options valued at $66 million, plus $3 million in salary and cash bonuses, the chipmaker reported late Friday. In addition, Tan will receive annual stock awards valued at no less than $24 million beginning next year.

In his letter to Intel employees, new chief executive officer Lip-Bu Tan, who starts his new job next Tuesday, tells them that he is “never deterred by

U.S. chipmaker Intel's new CEO Lip-Bu Tan will receive a salary of $1 million and be eligible for an annual cash bonus of up to $2 million, the company said in a regulatory filing on Friday. The company named Tan as the CEO on Wednesday,

Intel named its new CEO on Friday. The tech giant appointed Lip-Bu Tan as its new chief executive officer (CEO) and revealed that he would receive a base salary of $1 million along with an opportunity to earn an annual cash bonus of up to $2 million.