Santa Clara, Calif.-based Intel has named Bob Swan CFO, according to The Wall Street Journal.
Mr. Swan most recently served as an operating partner for private equity firm General Atlantic. Prior to his role at General Atlantic, Mr. Swan was eBay's CFO for nine years. He'll begin his tenure at Intel Oct. 10.
Mr. Swan's compensation package includes more than $23 million, according to a regulatory filing. His base salary at Intel will be $850,000 and he will be eligible for a hiring bonus of $5.5 million and an annual bonus of $1.2 million. Mr. Swan's stock grant will potentially be worth $9.5 million and his annual equity award may reach nearly $6.5 million.
"I'm thrilled to join Intel, a company where incredible innovation is supported by strong financial management," Mr. Swan said, according to WSJ.
Mr. Swan will replace Stacy Smith, who received a promotion in April. Mr. Smith will now serve as executive vice president and will oversee Intel's sales, manufacturing and operations.