E-Commerce Times Talkback
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Ousted Hewlett-Packard Chairman and CEO Carly Fiorina will get a severance package worth more than US$21 million, according to a proxy statement filed with the U.S. Securities and Exchange Commission. Under the severance agreement, Fiorina will get $14 million in cash, which is 2.5 times her base salary and target bonus. Hewlett-Packard also will pay her $5.88 million under its 2003-2004 long-term performance cash program, and $1.5 million, which is the pro-rated amount of her awards under the 2004-2005 program.
This is rediculous! Only in America is a person REWARDED for bad performance.
She should not receive any 'bonus' monies. She should be terminated, escorted off the property and sued to recover any loss the company has had due to her negligence.
I understand that superior performance receives higher benefits but giving bonus money to a person that does not perform well is rediculous.
Someone has to make a stand and stop these 'golden parachutes' given to persons who fail to DO THEIR JOB!!