September 21, 2010 |
Hewlett-Packard Co. agreed Monday to end a lawsuit aimed at preventing its recently ousted chief executive, Mark V. Hurd, from going to work for rival Oracle Corp. Under the settlement, Hurd agreed not to disclose HP's trade secrets to his new employer and waived his rights to nearly 345,000 special stock units he was entitled to as part of his severance package. If sold today, they would be worth close to $14 million. In addition to the stock units he gave up, Hurd's severance package included more than $12 million in cash and 775,000 stock options that vested on the day of his resignation, worth tens of millions more.
August 28, 2011 |
Austrian economist Joseph Schumpeter is usually credited with using the term "creative destruction" to describe how capitalism evolves by supplanting the old with the new. But it's a fair bet that Schumpeter never could have imagined how creatively Hewlett-Packard Co. has managed its own destruction. Arguably the founding engineering firm of Silicon Valley when it was created by Bill Hewlett and David Packard in 1939, HP has been on a more than decade-long stumble dating back to before the appointment of the glamorous Carly Fiorina as chief executive in 1999.
January 24, 2006 |
Hewlett-Packard Co. paid Chief Executive Mark Hurd $24.4 million last year in salary, bonus, stock options and other compensation. The Palo Alto-based company also paid ousted CEO Carly Fiorina $22.3 million last year in salary and severance. Fiorina, who worked for three months in 2005, earned $575,287 in salary and the rest in severance. Hurd, who took over April 1, received $816,667 in salary, a bonus of $5.13 million and stock and options worth $9.
August 1, 2012 |
A California judge has ruled that Oracle Corp. is contractually obligated to continue developing software for Hewlett-Packard Co.'s Itanium-based servers. The decision Wednesday by Judge James P. Kleinberg in San Jose advances Hewlett-Packard's lawsuit to a jury trial to determine whether Oracle broke the contract and what, if any, damages should be awarded. Both sides have 15 days to file an objection to the decision, the judge said. The judge agreed with Hewlett-Packard that Oracle made a commitment to support Intel Corp.
January 24, 2007 |
Hewlett-Packard Co. said Tuesday that Chief Executive Mark Hurd received an $8.6-million bonus in 2006, a year of strong performance but one plagued by scandal over its shady boardroom spying antics. In its proxy filing with the Securities and Exchange Commission, HP said Hurd received the bonus on top of his $1.4-million base salary for his strong leadership in helping the company grow and become more efficient. The computer and printer maker surged past IBM Corp.
August 31, 2010 |
Hewlett-Packard Co., the world's largest maker of personal computers and printers, said Monday that its board had approved an additional $10 billion for share repurchases. The move adds to $4.9 billion already available and will help offset dilution from employee stock purchases, HP said. The company will repurchase at least $3 billion in shares in the fourth quarter ending in October, interim Chief Executive Cathie Lesjak said in a statement. The Palo Alto company is in a bidding war with Dell Inc. for data storage provider 3Par Inc. of Fremont.