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Sat Jan 12, 2013, 08:44 PM

 

Meg Whitman could get more than $15 million for her first year as CEO of Hewlett-Packard

Meg Whitman could get more than $15 million for her first year as CEO of Hewlett-Packard, according to company filings.

It's a big payday even by the lofty standards of big-time CEOs. The chief executives of major public companies made a median of $9.6 million in 2011, the most recent year available, according to executive pay research firm Equilar.

But Whitman's $15.4 million pay package takes an unusual formula, one that she hopes will inspire confidence that she is serious about turning around the ailing computer company. For the second year in a row, she will receive just $1 in salary. She will also receive a $1.7 million bonus and about $220,000 worth of perks, almost all of that related to use of company airplanes.

The bulk of her pay, though, is tied to the company's performance. She is to receive $7 million in stock awards and $6.4 million in option awards. Options are the right to buy shares in the future at the price they're trading at when the options are granted, so they're worth something only if the shares go up.

More: http://www.usatoday.com/story/money/business/2013/01/12/meg-whitman-hp-15-million/1828809/

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Reply Meg Whitman could get more than $15 million for her first year as CEO of Hewlett-Packard (Original post)
UnrepentantLiberal Jan 2013 OP
tularetom Jan 2013 #1
Yo_Mama_Been_Loggin Jan 2013 #2
UnrepentantLiberal Jan 2013 #3

Response to UnrepentantLiberal (Original post)

Sat Jan 12, 2013, 08:59 PM

1. And how did the shareholders of HP do in return for their paying Whitman $15 million?

You would assume that the value of HP shares must have risen dramatically in order to shell out that kind of dough.

But no! This time last year their shares were selling at about $26. As of yesterday they were at $16.16. I have no idea how many shares are outstanding but I'd bet that the company lost far more than the $15 million they paid this incompetent hack.

Crony capitalism at its finest.

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Response to UnrepentantLiberal (Original post)

Mon Jan 14, 2013, 03:41 PM

2. What's even more sickening

(Reuters) - Chief executive Meg Whitman received compensation worth about $15.4 million in 2012 as Hewlett-Packard Co. posted a net loss in her first full fiscal year in charge, according to a federal proxy filing.

Since taking over the reins, Whitman has tried various strategies to turn around the Silicon Valley titan, including plans to cut an estimated 29,000 jobs over the next two years and reverse a previous corporate decision to spin off HP's PC division.

But years of corporate tumult, and the company's shares dropping by nearly 39 percent in the past year, has had investors putting the company's board under intense scrutiny.

http://www.reuters.com/article/2013/01/12/us-usa-hp-whitman-idUSBRE90B0CU20130112

Great compensation for doing a shitty job.

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Response to Yo_Mama_Been_Loggin (Reply #2)

Mon Jan 14, 2013, 05:48 PM

3. Cut 29,000 jobs and plunder $15,000,000.00

 

What more needs to be said?

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