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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
HP busts out new ProLiant Gen9 servers
Think those are cool? Wait till you get a load of our racks
Like condoms, data now comes in big and HUGE sizes
Linux Foundation lights a fire under storage devs with new conference
Community chest: Storage firms need to pay open-source debts
Samba implementation? Time to get some devs on the job
Silicon Valley jolted by magnitude 6.1 quake – its biggest in 25 years
Did the earth move for you at VMworld – oh, OK. It just did. A lot
Forrester says it's time to give up on physical storage arrays
The physical/virtual storage tipping point may just have arrived
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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?