Shamed HP CEO could pocket $40m due to legal loophole

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This article in the Financial Times reports on how the terms of Mark Hurd's contract mean he still gets a big pay-off despite his "ethical Lapses."

Hurd was forced to resign last week after allegations of sexual harassment revealed expense claims that did not follow company policy.

The FT says, "The terms of the former HP chief executive's employment did not lay out any specific circumstances in which the company would fire him "for cause", which would have enabled it to avoid paying severance."

Hurd and other HP board members also face a law suit.

I still want people's opinions about who will replace Hurd?

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This page contains a single entry by Karl Flinders published on August 14, 2010 8:36 AM.

Is the greatest IT acronym for Indian IT? was the previous entry in this blog.

If Wipro wants 50% of European staff to be locals it had better get its act together. is the next entry in this blog.

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