(Reuters) – Intel Corp (NASDAQ) Chief Executive Officer Pat Gelsinger made 1,711 more than the average employee at the U.S. chipsmaker over just eleven months, according to a regulatory filing. This was in February 2013, a year after his arrival.

The former CEO Bob Swan earned 217x more than an average Intel employee in 2020, compared to Gelsinger.

Gelsinger made $178.6 Million in 2021, with stock options accounting for nearly 79%. This was almost 79% more than Swan’s 2020 compensation.

In the United States, executive compensations are on the rise. Apple Inc (NASDAQ:) CEO Tim Cook earned https://www.reuters.com/technology/apples-tim-cook-paid-over-1400-times-average-worker-2021-2022-01-07 1,447 times of the average employee at the tech giant in 2021. The company’s shareholders approved the package, despite Institutional Shareholder Services, a proxy advisory firm pushing for it.

Intel is asking shareholders to vote for its executives’ pay at its annual stockholders meeting, which will be held on May 12.

Gelsinger assumed the control of Intel after it was once an industry leader in chip manufacturing technology. Gelsinger devised a turnaround plan for Intel to restore its position in the semiconductor sector, which is led currently by Taiwan Semiconductor Manufacturing Co.

TSMC is years ahead Intel in its technology to make advanced processors.

After dropping about 17% in the previous year, Intel shares rose 6.8% to $6.8 last year. This was despite the fact that the company had been facing a manufacturing crisis.

Intel revealed the first details about a $88 Billion investment plan that will be implemented in six European Union countries. This includes a large investment in Germany.

Gelsinger, who was the CEO of VMWare Inc. before being appointed as Intel’s top boss, had previously been CEO of VMWare Inc. He was a veteran of Intel for over 30 years before he left.

The filing stated that his compensation was one-time, new-hire equity grants with a target of $110,000,000.