n the month of November last year, Intel CEO Brian Krzanich sold off a big chunk of his company stocks worth $24 million (245,743 shares). The stocks were valued at $11 million back then. Now, the CEO is left with just 250,000 shares which fulfill the minimum requirement to continue his job.
It’s normal for CEOs to the sell their stocks. But what sounds unusual to some people and raises eyebrows is that the sale was made months after Google told Intel about the scary vulnerabilities in their processors that exist at the fundamental level.
According to an Intel statement, Krzanich selling his stocks is ‘unrelated’ to the reports of vulnerabilities. It’s unclear whether Intel CEO was personally aware of the security flaws before deciding the pre-planned stock transaction.
There could be many reasons, personal, such as buying a new house. Or he might have some other investment plans in mind. And as Motley Fool said in an earlier report, it gives an impression that Krzanich lost some faith in the potential of Intel stocks as he unloaded every single share above the minimum requirement.
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