HP to Limit Severance Payouts for Ousted Executives
Hewlett-Packard Co., still smarting from criticism over the exit packages it awarded to ousted chief executives Mark Hurd and Leo Apotheker, will limit severance payments it makes to senior executives who are pushed out.
The revised severance policy, disclosed in the technology giant’s annual report filed Wednesday with the Securities and Exchange Commission, means any executive officer terminated without cause will have to leave behind restricted shares or options that aren’t vested at the time they leave the company.
