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When most of us get fired, we get a severance package of some sort and we’re scrambling to look for a job. but if you’re the ex-ceo of HP Leo Apotheker, you score $13 million after leaving the company:
Mr. 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 Mr. Apotheker’s other stock awards will depend on how the company fares in the next few years, according to documents filed Thursday.
Keep in mind that in the 11 months that he ran the show at HP, the stock value nosedived and shareholders are ticked. One has to wonder what he would have got if he succeeded.