[Info-vax] HPE going after Mike Lynch's estate

[Simon Clubley]

On 2024-09-16, Arne Vajhøj <arne at vajhoej.dk> wrote:
> On 9/16/2024 8:31 AM, Simon Clubley wrote:
>> Can I assume that, in order to protect the shareholders, they intend to
>> go after the HP management who made the purchase decision in the first place
>> without carrying out the due diligence checks before buying Autonomy ?
>> 
>> No, I didn't think so. :-(
>
> The acquisition was done in the very short reign of Leo Apotheker.
>
> According to Wikpedia he got 7.2 M$ in severance pay, 3.56 M$
> in shares and a performance bonus of 2.4 M$ when he was kicked out
> after 10 months.
>
> And he has done rather well as member/chairman of various
> companies boards since then.
>
> But he does not have 4 B$.
>

The point is to make an example of him for not following established
procedures and hence costing them a _lot_ of money.

That way, future executives will be less tempted to do the same thing
and hence the shareholders benefit.

These people get a _lot_ of money. They should have a level of
responsibility that matches earning that amount of money.

I wonder if HPE's plan is to try and make Mrs Lynch throw in the towel
while she is under extreme emotional stress and hence they can claim
some sort of "victory", at least in their little minds ? :-( :-(

Simon.

-- 
Simon Clubley, clubley at remove_me.eisner.decus.org-Earth.UFP
Walking destinations on a map are further away than they appear.