Exiting HP CEO To Get $10 Million Severance

Illustration for article titled Exiting HP CEO To Get $10 Million Severance

Former CEO Leo Apotheker is leaving his HP with a very generous severance package that includes a $7.2 million payment and a $2.4 million annual bonus. The company is also paying to move Apotheker back to France or Belgium.

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Besides the cash payout, Apotheker will receive 156,000 restricted shares in HP. The shares are likely worth the least now as HP's stock has plummeted 45% since Apotheker took control of the company about a year ago. [Reuters]

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DISCUSSION

So, let me get this straight...

HP hires a CEO. He leads them into a crisis, dropping stock values 45% (according to your post - I haven't done my own research,) builds up a great product that they then decide to drop completely and are forced to sell at mind-numbing, rock bottom prices... Talks about spinning off the PC making part of the company - you know the part they became famous for - and then is released...

And he gets 10 MILLION for that!!??!!

HOLY SHIT!!!!!!! WTF IS WRONG WITH OUR WORLD??????

I work hard, have not run ANY company into the ground - and I can barely afford to feed my family!!!! He gets 10 MILLION?!?!?!

Looks like my next job is a CEO of some multi-million dollar company. That way I can run THEM into the ground and receive a sweet severance package a year later.