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 depend on how the company fares in the next few years, according to documents filed Thursday.
Hewlett-Packard Co. also will cover Apotheker's expenses for an anticipated move to France or Belgium.
Meg Whitman, HP's new CEO, is being paid just $1 a year, but she could earn a bonus of up to $6 million.
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