Larry Ellison outraged as HP hands top job to ex -SAP CEO

Oracle CEO Larry Ellison has fired off a stinging rebuke to HP over the appointment of former SAP chief Leo Apotheker as CEO.

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Oracle CEO has fired off a stinging rebuke to HP over the appointment of former SAP chief Leo Apotheker as CEO. Oracle has been locked in a legal battle with SAP over the alleged theft of software secrets by the SAP subsidiary TomorrowNow.

IN pre-trial hearings SAP has admitted that staff at TomorroNow broke copyright by downloading unauthorised copies of software from Oracle customer’s accounts.

In an email to the Financial Times, Larry Ellison stated:

“Sap has already publically confessed and accepted financial responsibility for systematically stealing Oracle’s intellectual property over a long period of time. Much of this industrial espionage and intellectual property theft took occurred while Leo was CEO of SAP.

“The HP board must have been aware of these acts , yet they appointed Leo CEO of HP anyway. What happened to the HP way?”

The HP Way was the corporate philosophy espoused by the company’s founders Dave Packard and Bill Hewlett.

SAP, despite its corrupt admission, is disputing Oracle’s $1 billion damages claim, suggesting that tens of millions of dollars is a more appropriate sum.

Leo Apotheker, so far, does not figure significantly in the court proceedings, the Financial Times noted.

Ellison’s anger erupted as it emerged that HP was paying its new CEO a salary in line with his predecessor Mark Hurd, who has now joined Oracle.

In addition to a $4 million signing bonus and $4.6 million in relocation fee, Apotheker, will receive a $1.2 million basic with performance related bonuses of up to an extra $6 million. By taking the HP job, Apotheker is set to lose $1.7 million in payments and benefits from previous employment. SAP would not confirm or deny these figures

Apotheker  will also get 80,000 restricted shares of HP stock that will vest over the next two years and 120,000 shares tied to HP's financial performance targets over a three-year period (the performance-based shares will vest over the next three years).

This I backed by long-term stock grants, including 76,000 restricted shares of HP stock that will vest over the next two years; and 608,000 shares, vesting over the next three years, which are tied to HP's financial performance.

To fill out the package, Apotheker will have access to company aircraft and personal security services.

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