Former Dell CEO Kevin Rollins will be making bank after all. Despite receiving a pyrite parachute of a severance package to the tune of $5m, the ex-executive will receive an additional $48.5m in expired stock options that have been frozen because of an accounting investigation. Rollins, however, will have to tuck himself in …
"The company lost its lead in PC sales to HP, its server market growth withered, it fell behind in processor technology, was hit with an accounting probe, earned a reputation for bad customer support and company share prices plummeted."
So that's what 'helmed' means! "Brace yourself, Martha, you're about to get the helming of your young life!"
Re: Always wondered
It's from "hide the helmet" which is credited to Prince Charles, I believe!
And they told me that hard work would pay off!
Well, I suppose that's true. They just never told me that it would be the incompetent boob of an MBA that would get paid, when I was working hard.
US$54.5 million for severely damaging the company. Damn! I should have been sabotaging the software development process, instead of trying to find the bugs!
Wait a Minute
Normally stock options have to be paid for at a price that was defined in the past & any profits may be taxable.
Your article is misleading - it doesn't say what the options will cost (if anything), it just implies he's getting a huge windfall.... Or is he really getting a huge share tranche for nix?
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