SAN FRANCISCO (AP) -- Recently fired Hewlett-Packard CEO Leo Apotheker is walking away with more than $13 million in cash and stock after an 11-month reign that saw the technology's company market value plunge by nearly $40 billion.
Apotheker's parting package includes a $7.2 million severance payment and a $2.4 million bonus for his performance while he was CEO. He also will keep restricted stock currently worth about $3.7 million. The value of Apotheker's other stock awards will HPQ is not unique the disease, theft is corporate wide. And they probably want their taxes reduced.
PAY for PERFOMANCE....HP holds there employees to this artificial standard but not the executives. The BOD and the compensation committee should be lynched. We may not be far away....watch out Corp America.