US 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.

After months of searching for a new CEO following the abrupt retirement of former CEO Pat Gelsinger, Intel (NASDAQ: INTC) has landed on Lip-Bu Tan. Tan led Cadence Design Systems, a provider of ...