If Oracle's acquisition of Sun Microsystems goes as planned, Sun CEO Jonathan Schwartz will receive a severance package of about $12 million, and co-founder and Chairman Scott McNealy will get around $9.5 million, according to a proxy statement filed last week.
The severance packages are large, though not on the scale of the $21 million-plus paid to former HP CEO Carly Fiorina, or the whopping $210 million severance paid to former Home Depot CEO Robert Nardelli.
Slideshow: What network CEOs really make
The agreements don't necessarily mean that the Sun executives will leave the combined firm once the deal is done. Indeed, the proxy statement noted that Oracle CEO Larry Ellison "spoke generally" to McNealy "about a role" in the combined company but added that no agreement had yet been reached.
Independent analyst Rob Enderle said that at first glance, the severance packages for the Sun executives don't appear to be excessive.
"Schwartz's severance package appears to be in line with his salary and within range of other packages in [Silicon] Valley, so I think it will be hard to sustain an argument that it is uniquely excessive," Enderle said.
Sun shareholders are scheduled to vote July 16 on whether to accept Oracle's $7.4 billion bid for the company.
This version of the story originally appeared in Computerworld 's print edition.
Rss FeedRss Feed
The Leader in Network Knowledge
Partner Content
Blue Stripe Software
www.bluestripe.com/
Improving Application Performance Troubleshooting
Diagnosing why an application is slow is hard, at times taking days or weeks to isolate and resolve. This paper explains the challenges involved using current management tools, provides a 'wish list' for application management and analysis, and explains the need for an application system-wide approach that monitors entire applications, not components.
Download Whitepaper
Virtual Vigilance: Managing Application Performance in Virtual Environments
This paper highlights the impact of virtualization on application performance. "Managing Application Performance in Virtual Environments" states: "Best-in-Class organizations are predominately taking actions around improving visibility across both physical and virtual systems, assessing the business impact of application performance and understanding interdependencies of applications in virtualized environments."
Download Whitepaper
Application Service Requests: The Missing Link for Pragmatic ITSM
Forrester Research analyst Glenn O'Donnell and BlueStripe co-founder Vic Nyman discuss a breakthrough approach to application problem management. Learn the new approach for ITSM problem management, which provides: Rapid isolation of application slow-downs to specific components for quick problem resolution, 24/7 monitoring for proactive notification of potential issues before end users are impacted and much more.
Register for Webcast
Comments (1)
CEO's making too much money..By UnderPaytheCEO on June 22, 2009, 1:28 pmUnless the companies are giving out some huge bonuses, raises and no layoffs they should look around at other employees and see if they are doing as well as their...
Reply | Read entire comment
View all comments