ceremorphosis

From CNN Money:

On the job as chief executive for not even 11 months, Leo Apotheker will leave HP a wealthy man: He has already taken home most of his $1.2 million annual salary, a $4 million signing bonus, and an additional $4.6 million awarded for relocation assistance and to offset payments that he forfeited from his previous employer, SAP.

Apotheker was ousted on Thursday, but he’ll collect more money on his way out the door. The former CEO will take home $7.2 million in cash as severance, plus $18 million more in stock.

In 11 months, Apotheker’s leadership resulted in a 42% loss in value for HP. He takes home $25 million; meanwhile other HP employees will have to worry about losing their jobs and making their mortgage.

He was ousted from SAP, and now from HP, but a betting man would wager he’ll find a job as CEO somewhere else. The CEO compensation and nepotism system is broken.