During Dave Bell's 4-year period at Intersil, the company has regularly missed estimates, exited bad markets like a sloth, made unrealistic promises to shareholders and seen the value of the company decline well over 50% but they're giving Bell a cash payment of $2,688,000 and millions more by vesting his stock options. This is an outrage.
If anyone had any doubts about whether or not Bell was fired, this should eliminate them. Bell was definitely fired.
Changing the subject somewhat, Bell's firing reminds me of the CEO, Steve Skaggs, leaving Lattice in '08 right as sales of their new FPGA line took off. If one looked at the growth in new product sales at the time, it made no sense. However, if you looked at a stock chart, the question would be, why didn't they get rid of that guy sooner? I'm not comparing the situation at Intersil with those at Lattice in 2008. For one thing, it was considered a given that Lattice's new products would have good sales growth which they did until the bottom fell out of the market later that year.