02.28.08
Novell Operates at Loss, Layoffs Expected, Company Sold Out But Ron Hovsepian Receives Reward
Reward for competence or for helping a rival?
A couple of months ago, around the time SCO was dissolving and some time after Chapter 11 had been filed, many SCO employees were fires while managers at the company (including Darl McBride) received generous bonuses. This was covered quite extensively in Groklaw which still has all the details. Moving on to Novell, consider this:
- Massive layoffs are expected this year
- Novell is massaging its financial figures
- Novell’s old leadership is gradually departing (more recently it was LaSala)
- The company now depends (in the financial and [cef 2568 technical sense]) on Microsoft, its competitor
Here comes the news about Ron Hovsepian receiving quite a compensation.
Ronald Hovsepian, the president and chief executive of networking software maker Novell Inc., received a compensation package valued at $7.3 million in 2007, according to a proxy statement filed Wednesday.
Watch and weigh this within a broader context, which includes interesting (even mysterious) moves that occurred shortly after the deal with Microsoft had been signed. We wrote about this later as well. Why is Hovsepian paid more money? █
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