Some satisfaction for the bloodied and bruised employees and ex-employees of NXP lies in the revelation that the author of NXP's misfortunes, Kohlberg Kravis and Roberts (KKR) of
The 13% shareholdings owned by each of the two top execs in the company, Henry Kravis and George Roberts, are now worth $800 million each, instead of the several billion they were worth three years ago.
KKR bought NXP in the autumn of 2006 and since then has visited a plague of disasters on the company - huge indebtedness, factory closures, thousands of job losses and the selling of assets.
The valuation of KKR was made public in KKR's filing to the US Securities and Exchange Commission (SEC) prior to the company's IPO on the New York Stock Exchange next week. The filing was reported in yesterday's Financial Times.
Although there may be satisfaction in seeing KKR brought low, there can be none in contemplating last year's pay-packets of Kravis and Roberts.
Each of them was paid $22 million.
funny part is frans van houten who was fired by kkr in 2008, is expected to become CEO of Philips per April 1st 2011.
According to the source zawya.
Indeed, ex-nxper, I wonder what KKR think of that.
Seems like Ed the serial CEO has a dutch cousin....
I think KKR don't give a damn about it unless they can make money out of it.
Spot on, JC Duss