Posted by: badarrow
Barbara Darrow, Carly Fiorina, HP, Jonathan Schwartz, Oracle, Scott McNealy, Sun Microsystems
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.