Feeds

EMC boss Tucci in lucky escape from poverty

$1m here, $1m there, soon you're talking real money

Next gen security for virtualised datacentres

EMC boss Joe Tucci has managed to escape poverty by the skin of 8.2 million teeth; he has just cashed in his stock options for a cool $8.2m.

The Boston Business Journal notes that Tucci exercised stock option rights and bought 575,000 EMC shares for $12.85 to $13.18 and then, what a wheeze, sold them at once for $27.46 each, enabling him to buy the week's shopping, fuel his car, clean his suits, and pay for whatever else you need when you are a multi-millionaire.

Comment

It's always a mystery to me why the people who toil in the trenches don't get such gold-plated incentives while the people with the million dollar salaries get stock options to make them even richer. Wouldn't the benefit of incentivising 30,000 trench-working people strongly outweigh the benefit of incentivising 10 or 20 execs excessively?

Well, as the apologists for such emolument schemes might say, the drones in trenches wouldn't have jobs at all unless Joe did his great job, they'e relatively well-paid anyway, and Joe T deserves his reward because he's making EMC stockholders richer. The company has indeed just reported a knock-out quarter and full year.

Joe T still holds 1.8 million EMC shares, so he would be making himself richer even without the stock options. ®

Build a business case: developing custom apps

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
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?