Hewlett-Packard has just settled its dispute with former CEO Mark Hurd over his recent move to Oracle for undisclosed terms. By making the move to competitor Oracle, Hurd gave up options on 346K shares of HP stock which at today’s closing price of $39.39 means $13.6M in losses.
HP is currently selling at $39.39 which marks a steep dip from the day Hurd was fired; On August 6th, 2010 HP’s stock price closed at $46.30, a $6.91 difference. If you multiply that by the 2.27B shares outstanding it means a $15.68B Hurd-related market cap drop for HP.
Clearly not the biggest loser here, and having nearly recovered from last month’s particularly messy sexual harassment scandal, Hurd will be joining friend Larry Ellison at Oracle as Co-President. And who knows what kind of cushy options he will pick up at Oracle?
Hewlett-Packard Company (NYSE: HPQ), commonly referred to as HP, is an American multinational information technology corporation headquartered in Palo Alto, California, USA. HP is one of the world’s largest information technology companies and operates in nearly every country. HP specializes in developing and manufacturing computing, data storage, and networking hardware, designing software and delivering services. Major product lines include personal computing devices, enterprise servers, related storage devices, as well as a diverse range of printers and other imaging products....
Oracle is an enterprise IT company with a specialty in database management systems.
Sponsored Ads
Sponsored Ads
Sponsored Ads
