Former Intel CEO Barrett: It's not the right time to consider a breakup.

Intel has significantly increased the compensation package for its product chief, Michelle Johnston Holthaus, by adjusting her pay. Under the new package, Holthaus will receive a base salary of $1 million, plus up to $2 million in cash bonuses, for a potential annual compensation of $3 million. She will also receive a one-time "restricted stock" award worth $5 million, as well as a "long-term incentive equity award" with a target value of $16 million. More notably, she will also receive a severance package under Intel's executive severance plan if she is terminated, an arrangement that is unusual as the other co-CEO, David Zinsner, does not seem to have a similar arrangement. However, not everyone is excited about these new developments. Former Intel CEO Craig Barrett publicly supported current CEO Pat Gelsinger, suggesting that Intel's board be fired and Gelsinger be rehired. Barrett believes that, despite the board's best intentions, they are "academics and former government officials" who are not suited to understand the current situation. Barrett pointed out that now is not the time to split Intel, given its new 18A process technology. He believes that 18A will allow Intel to compete with almost all of its competitors, even catching up with TSM's current N2 process. If the foundry business is spun off from the product division, it will distract Intel, which is not something Intel needs right now. The consensus rating for Intel on Wall Street is "Hold," based on 1 Buy, 25 Holds, and 5 Sells ratings over the past three months. The average target price is $22.69 per share.