Recently Fired HP CEO Departs With More Than $13 Million

HP CEO Apotheker leaving with $13 million
HP CEO Apotheker leaving with $13 million

By Michael Liedtke

SAN FRANCISCO -- Recently fired Hewlett-Packard CEO Leo Apotheker is walking away with more than $13 million in cash and stock as shareholders stew over a rocky reign that saw the technology company's market value plunge by nearly $40 billion in just 11 months.

The parting package spelled out Thursday in a regulatory filing wasn't surprising. Most major companies guarantee generous payments to ousted executives as long as they aren't dumped for unethical or criminal conduct.