Intel board approves "say on pay" plan

January 29, 2009 10:29:27 PM PST
Santa Clara-based Intel has given its shareholders a say in how much money corporate executives will make.

The chipmaker's board of directors approved the "say on pay" plan. At Intel's annual meeting in May, shareholders will be asked whether they approve of the company's compensation philosophy, policies, and procedures.

Fifteen other U.S. companies have approved similar measures in the past year, including Hewlett-Packard although HP's vote won't go into effect until 2011.