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Any Silicon Valley folks here? - 8/7/2010 5:14:34 AM

thornhappy

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Hi folks...I found the story about Mark Hurd stepping down interesting because there's a local tie-in to Dayton. He left for HP after only 2 years on the job as CEO at NCR, one of our (past) major employers (the headquarters relocated awhile ago.)

Considering he resigned after the harassment violation and fudging his expense account, what do local folks think of his severance package? It's being reported as "Mr. Hurd is leaving with $12,224,693 in severance, according to a company filing with the Securities and Exchange Commission on Friday. H.P. also extended the deadline for Mr. Hurd to purchase up to 775,000 shares of H.P. common stock, which were vested as of Friday, and 330,117 performance-based stock units that will also vest."

(As an aside, I once worked for a company acquired by HP, then spun off into Agilent.)

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RE: Any Silicon Valley folks here? - 8/7/2010 7:57:34 AM

NuevaVida

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Unfortunately it's not surprising. I remember years ago, Xerox's CEO (or the CEO of their Palo Alto Research Center - PARC - can't remember which) received a profound package upon leaving, after only a few years. They were investigated by CalPERS and fined by the SEC, some years later, and required to restate their earnings for several years.

One would think in this economy, and after so many cases of embezzlement and 401k fraud have hit the news, some of these corporations would tone it down a bit. But apparently greed continues to push the financial envelope.

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