Carly's landing cushioned by 45m dollar bills

But she's no Jack Welsh

If HP's erstwhile CEO, Carleton Fiorina, feels like sobbing as she contemplates life after ink cartridges, she can blow her nose on a golden parachute worth roughly $45m.

As well as existing stock options, a cash payout of $14m, plus $7.38m in other bonuses, Carly gets to keep her computer, with three months of tech support. She'll get home security for a year, six months of administrative support, and $50,000 towards financial counselling and help with finding a new job.

When Fiorina joined HP in 1999, charged with shaking up the company, she received a $3m signing bonus and 5.8m stock options. These are now worth substantially less than the $65.5m they represented when she signed the deal, following the dot com stock market crash and the continuing drop in HP's share price. Nonetheless, their face value of around $18m is better than a kick in the teeth.

During her tenure with the company her salary averaged $1.2m, and her bonuses have topped $1.5m in total.

It is not recorded whether the severance package includes hair maintenance services. At the outset of her HP career, Fiorina was rumoured to travel with a personal hair stylist, a claim she always denied.

Reuters has more here. ®

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