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Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. As a leader in corporate responsibility and sustainability, Intel als...
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MIKE NAMIE, SENIOR COMPENSATION CONSULTANT, GLOBAL STOCK, INTEL CORPORATION (US)
GEO Board of Directors
The main conference address was delivered ...
The main conference address was delivered by Mike Namie, Senior Compensation Consultant at Intel Corporation.
Mr Namie stressed the importance of communication as a means of enhancing employee perception of the value of stock benefits.
He stressed the link between productivity, employee engagement and employee financial involvement.
also observed that a falling or stagnant company share price has created its own share of problems for management and participating employees.
The problems faced by Intel
are indeed shared nowadays by all too many corporates, many of whom have been faced with far more ferocious share price meltdowns.
But first, Mr Namie set out the history of stock benefits at Intel, a history which can be traced back to the firm's co-founder, Robert Noyce, a man who has been described as "the Father of Silicon Valley culture."
Says Mike Namie
: "Noyce left his previous firm, Fairchild Semiconductors, because management there did not want the employees to share in the proceeds of growth."
According to Mike Namie
had to ask itself the question: "Do broad based (stock) benefits - suited to growing firms - make sense for a company of Intel's
size and maturity?"
Enhancing employee knowledge can have a greater impact in improving peoples' perception of value than any change in the design of the benefits, according to Namie
"There is a need for more personalisation in our communications.
Training is too generic," he
CAN CONSERVE CASH
In response to a question from the conference floor, Mr Namie
admitted that Intel might well consider issuing stock, this year, as an alternative to a cash based pay increase to employees.
Board of Directors
John Bagdonas | Juan Bonilla | June Anne Burke | Janet Cooper | Lindsey Doud | Jay Foley | Kelly Geerts | Judith Greaves | Veroniqué Japp | Michael Namie | Brian Ruff | Carine M. Schneider | Sean Trotman | Jewon Wee | James Wulforst | Barbara Seta | Photos and Bios of the GEO Board of Directors
As Sr. Compensation Consultant, Global Equity, for Intel Corporation, Mike is responsible for leading the design and implementation of Intel?s equity compensation programs worldwide.
Mike?s background is predominantly in accounting and finance working as a CPA for a Big Five Public Accounting firm and a computer distributor in Phoenix, Arizona.
Mike?s been with Intel
for 11+ years spending six of that in finance management and the last five in compensation.
While in compensation, Mike
has worked on the design of cash, variable pay and equity for Intel?s 90,000 plus employees worldwide.
Mike also led the design and implementation of a HR system to track compensation costs for various groups and levels of employees in each of Intel?s 60+ countries.
Mike has a Bachelor of Science Degree in Accounting and a MBA with an emphasis in finance from Arizona State University.