HP Inc to Xerox: If you complete a hostile takeover, and try firing our chief exec, you will pay...

HP Inc's chief exec will be paid 50 per cent more if he is fired in a hostile takeover, according to the company's SEC filings last week. Under the new formula, newly appointed chief exec Enrique Lores stands to make roughly $7.2m in severance pay if he is fired as the result of a change of control, according to Bloomberg …

[Anonymous Coward]

HP clearly cares about its employees

As long as those employees are overpaid executives with golden parachutes.

[sanmigueelbeer]

Things are really getting desperate at HP Ink.

NOTE: I've ran out of popcorn due to Autonomy court case. Going out to get some more from Costco.

[ds6]

Have fun, honey. And don't get the Wutang! You know Crumb can't handle that with his asthma!!

[Anonymous Coward]

Because cutting their way to higher profitability worked so well under Fiorina and Smeg.

[BebopWeBop]

Diferent company now, but the sentiment is true.

[YetAnotherJoeBlow]

I wonder...

What if all this is just theater?

[Anonymous Coward]

Re: I wonder...

A tragedy or comedy?

Even Shakespeare would be proud methinks.

[Julz]

Re: I wonder...

A comedy, nobody's died yet. Well except I guess folks might die give up the will to live while watching this irrelevance.

[druck]

Every loser wins...

...as long as they are the CEO.

I fail to see how awarding yourself a massive severance package if you lose, gives you any incentive to fight off a hostile takeover.

[Flocke Kroes]

Re: Every loser wins...

Time for a burning platform memo.

[RLWatkins]

Isn't that agreement with HP...

... rather than with Xerox? If so, could Xerox simply reduce the CEO's pay to $18,000 / year and just stop paying any attention to him?

I've seen big companies do this to other employees whom it was too embarrassing to fire.

[Yet Another Anonymous coward]

Re: Isn't that agreement with HP...

With a new role visiting all former HP engineers who worked under Bill and David to gather their thoughts on the current state of HP management

[Anonymous Coward]

Who approved this pay packet?

If I was a shareholder, I would be livid

[BebopWeBop]

Pahh - if you are not Icahn then no one will notice.

[Anonymous Coward]

An idea

It would make more sense to make all HP employees very difficult to fire with a new cast iron contract with say 10x annual salary compensation required.

[Huge mistake]

Hey HP shareholders. Remember who you are dealing with Carl Icahn. Remember he bought the Fontaine blue in Las Vegas for about 30 cents on the dollar and then sold everything in that hotel made a profit and didn’t care about the purchase and never did as he knew what he had planned. You can rest assure he has plans and it will be to sell off pieces of the HP Corporation make his money back and then dissolve HP and the only one still standing will be Xerox and he will make sure it survives and does well. What is Xerox a photocopier/printer company not worth 9 billion but yet wants to buy a 30 billion dollar corporation that makes an abundance of products from copiers/printers/computers as well as all the peripherals that go with computing. It will be gone the name HP will be gone as well as the jobs as half of the Xerox world is now out of India not USA.

Hp should be putting an offer in for Xerox at about 9.5 billion as he will have made his money and laugh all the way to the bank as they don’t care at all about xerox either.

[Anonymous Coward]

HP don't really make printers unless you are thinking of the Indigo acquisition, and unless the Boise factory still makes inkjets.

[luis river]

Friendly Pact

...Enrique Lores stands to take roughly $7.2m in severance pay if he is fired... This don´t is the way, Lores is one very good managerial guy, demonstrated along their long career, it shall be remain on the future de X-HP company. The way ( me modest opinion ) is one combination power of the both companies, "without expensive borrowing" That is only possible in "friendly" pact.

[Anonymous Coward]

Priorities

Good to see that whatever happens to HP Ink, the important people will be taken care of.