I said “flail,” not “fail.” That might be next however.
I’ve written elsewhere regarding the status of Leo Apotheker and what he was doing to HP in the name of re-inventing and re-invigorating the company. My main argument was that SAP in 1999-2000 was already arguably a vendor of dinosaurware, with their monolithic and hugely overpowering software demanding staggering resources from companies implementing it, and offering little of the claimed benefits in return unless a full-scale implementation was done, which rarely was.
For an article describing what he was doing, and what was wrong with it, this Forbes article by Adam Hartung so aptly describes the problem.
Now he comes to HP and wants to reinvent it – a decade later! – in that same model! Well, thankfully HP had other ideas, and has finally announced his termination as of last week (9/28/2011). But what did they have to do to get rid of him? How does this sound:
The package includes a severance payment of $7.2m, payable in chunks over the next 18 months, plus the accelerated vesting of 156,000 HP shares worth $3.6m. Apotheker also got a $2.4m annual bonus – although the term “bonus” in his case clearly can’t be performance-based – and has another 424,000 in restricted stock shares that he might be able to cash in if HP does better both financially and on Wall Street. HP will also kick in $300,000 for any loss that Apotheker might incur on the sale of his house in California, which he bought last year after joining HP.
That’s from the great daily newsletter, The Register (UK). You can’t make this stuff up! Meanwhile, working stiffs like you and me put in our 50 hours a week and call it a day. We get our pay, and the future is up to us. There are no guarantees.
Oh, to be someone whose ego lets them rape the companies they work for and the stockholders who own the company, and collect millions of dollars for themselves, and for their families, and for their futures!