HP CEO leaves with $13 million despite dropping company's value by $40 billion in under a year

by Knowlton Thomas

I guesss it doesn't really matter how you perform as a CEO these days.

HP CEO Leo Apotheker was recently fired after less than a year on the job. Yet despite his detrimental underperformance and questionable decisions, Leo will walk away with over $13 million in cash and stock. 

During his reign, HP's market value plunged by close to $40 billion. But instead of Leo taking a hit for this staggering failure, he's now set for life.

A  $7.2 million severance payment and $2.4 million "performance" bonus combine with stocks worth roughly $3.7 million to complete Leo's ribbon-wrapped farewall gift. Heck, HP is even covering Leo's expenses for "an anticipated move to France or Belgium." Fancy that.

New CEO Meg Whitman, of eBay fame, will be paid $1 per year plus a bonus of up to $6 million.

Photo: AllThingsD

Mississauga, Ontario, Canada

The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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