Feeds

Capellas vows to clean up WorldCom

Random redundo pay-offs a thing of the past

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Who says Alphacide doesn't pay? Mike 'Don' Capellas, former CEO of Compaq and chairman of Hewlett Packard was freshly installed at disgraced random billing specialist WorldCom today.

WorldCom disclosed that it had mis-stated earnings by $3.4 billion in June, although the figure is now nearer $9 billion. The former CEO Bernie Ebbers negotiated himself a $1.5 million annual bonus for life, and over $340 million in loans from the company.

But now there's a new broom. Capellas vowed to uphold an "unwavering commitment to the highest possible standards of integrity," and zero tolerance for miscreants.

He'll be paid $1 million a year for upholding the highest ethical standards, and the two top jobs at WorldCom: Chairman and CEO. Capellas helped himself to a $14.5 million parachute when he re-negotiated an exit pay-off last December that gave him a bonus for bailing out early.

In his short time at the merged HP, Capellas proved himself so indispensible that Carly Fiorina has decided not to replace him.

According to the New York Times, Microsoft offered to make Capellas No.3, adopting the title of President and COO. ®

Related Story

Don Capellas leaves HP
You have no idea the evil we do' - MCI insiders break their silence

Secure remote control for conventional and virtual desktops

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.