HP Spent Over $80M To Get Rid of Its CEOs

hapworth writes "Analysis published today shows that Hewlett-Packard has shelled out over $80 million to get rid of three CEOs since 2005. The first CEO to take her expensive exit, Carly Fiorina, received over $42 million, once stocks, options, and pension are factored in. Mark Hurd, after just four years, received $12.2 million to take his exit; and now, after 11 months, Leo Apotheker will walk out with a reported $25.2 million in severance. With eBay's Meg Whitman in as the new CEO at HP, industry analyst Robert McGarvey writes today that 'the HP gig could help Whitman replenish her personal coffers, depleted by the pumping of $119 million into a futile bid to become California's governor.'"

I've got a better deal

[GodfatherofSoul]

I'll ruin your company for a measly $5 million; no stock options if you don't mind since I'll probably do a pretty good job of it.

Re:I've got a better deal

[Anonymous Coward]

Yeah? Well I'll do it even cheaper! I'll ruin the company for $4 million!
Your move bro.

They should just put it on eBay, and have a special "cheapest wins" sale.
Cheapest Price To Kill Our Company.

Re:Golden parachutes....

[Reverand Dave]

Exactly, they are this nations "Job Creators" after all. They should be handled with all things soft and heralded with golden trumpets when they enter a room.

Re:I've got a better deal

[bennomatic]

That's insane! You can't ruin a company for less than $5 million! Everyone knows that you need at least $5 million to ruin a company!

A slap in the face...

[AliasMarlowe]

I still want to know how Leo swung $2 million a month for his walking papers.

Actually, it took a lot of courage and fortitude on his part. He had to talk the board down from their initial settlement offer, which was vastly greater (it's only shareholders' money, not their own). Apparently, he wanted the monetary compensation to be so small that it counted as an obvious reprimand, almost an insult, and he clearly succeeded. A mere $25million is as hard a slap in his face as this board could be expected to give...

Re:I've got a better deal

[Surt]

They did put it on ebay. Somehow Meg came out on top in the auction. Surprising result.

Re:I've got a better deal

[Nethemas the Great]

You need an MBA (Master of Bullsh*t Arts). Essentially it's a degree in social engineering through plausible fabrication of reality while keeping a straight face. This should of course not be confused with the career path for politicians which starts with a law degree wherein you learn social engineering through the plausible misrepresentation of facts while keeping a straight face.