Actionable news
0
All posts from Actionable news
Actionable news in EMC: EMC CORPORATION,

$27 million golden parachute for EMC CEO Joe Tucci

Dell buys EMC for $67 billion

Joe Tucci just sold his company to Dell for $67 billion.

His reward? A $27 million severance package.

Tucci, who has been CEO of EMC (EMC) since 2001, said he will stay in the job until the mega-deal with Dell has been completed. In EMC's convoluted executive severance protocol, that means that Tucci's exit will be classified as a "change in control" termination, giving him the largest possible golden parachute.

If Tucci were to leave today, he would take home "just" $15 million as part of a "potential change in control." And if he retired Friday before the deal was announced, the chief executive would have received...


More