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.


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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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!!??!!


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.