According to a filing with the US Securities and Exchange Commission last Friday HP CEO Meg Whitman got over £9m pay in 2012 despite HP’s heavy losses.
She was only paid a basic salary of $1 but this was more than made up by $1.7m in bonuses and the remainder made up of shares and other income.
Whitman, who became CEO in September 2011, was rewarded a package worth $15.4m for the first year in charge.
Although HP wrote down its EDS and Autonomy acquisitions by over $16bn in 2012 Whitman can hardly be blamed as she was not in charge then. Rather she has had to deal with the aftermath.
But over $9m in rewards seems pretty generous. I blogged earlier about how HP troubles show dangers of demotivated staff to business. Whitman is not one of the workers I was referring to.
If you are a current or former HP worker, what do you feel about Whitman’s pay package?