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Ex-HP CEO Hurd Pays $14 Million Oracle Pledge Fee
theodp writes "Valleywag reports that ousted HP CEO Mark Hurd is paying dearly to roll with Oracle, giving up millions of dollars to settle the HP lawsuit that threatened to prevent him from working at his new job. Hurd will forfeit about 345,000 restricted HP shares that he was given as part of his HP exit package, which had a market value of $13.6 million. In addition to announcing the truce against the backdrop of Oracle's OpenWorld conference, HP and Oracle also reaffirmed their vows to each other."
It always seems a bit perverse that outgoing executives are rewarded so lavishly when being ousted for wrong-doing. Hurd (allegedly) sexually harassed a woman and he got a $14 million+ payday out of it. I'm not going to cry for him if he has to give it up.
My postings are informational and does not constitute legal advice. Act on it at your risk.
People like this man Hurd should be thankful to God for enabling the possibility for making millions come to light.
The money is not what drives Hurd. At this point its about having power and control, being considered a higher class worker or member of society, that's what drives him, he's already wealthy.
Wealth drives the poor to work. Power drives the wealthy.
Politicians are perfect examples, Richard Burris is a perfect example, already a well established Chicago politician who didn't need the paycheck from being senator, he just wanted the senate seat to fulfill his power drive.
So, he will have even less incentive to NOT hurt HP. The stocks might have given some incentive and/or conflict of interest when faced when challenging HP in any way. Now he can can freely use his ~*amazing*~ competative knowledge against them.
Interesting way to settle a lawsuit. I'm curious how this will play out during the next 10 years with government and large contracts.
Who is this that even the wind and the waves obey Him? Surely this computer must submit also!
On this globe, today, making these huge sums these media and business celebrities make..you can't get there without being a total asshole bastard. All those people are unscrupulous jerks, psychopaths. Those people are demons, evil.
If you value honesty and integrity...be happy with what you have.
I'm probably older than you, and also probably "make less money". I know I have turned down ways to make more money rather than compromise my position, even if it only applies to inside my own head/heart/soul.
To hell with the money and always wanting more and never being satisfied, it just ain't worth it.