If and when Scott McNealy and Jonathan Schwartz leave Oracle after it finishes swallowing Sun Microsystems, they won’t go empty handed.
McNealy, former CEO and still chairman would get about $9.5 million and CEO Schwartz about $12 million, according to Oracle proxy filings. As Computerworld points out, that’ s pretty good dough, but nowhere near the payouts previously seen. HP paid Carly Fiorina $21 million to leave and Home Depot coughed up a still-unbelievable $210 million to Robert Nardelli when he exited Home Depot. Suffice it to say this money was paid to execs with less-than-rave performance reviews.
Shareholders are slated to vote on the $7.4 billion acquisition on July 16.
And who knows, maybe McNealy and Schwartz will stay on and forego the payout.