HP’s Mark Hurd made $42.5 million in fiscal 2008

hp_logo_lg_hp_blueHewlett-Packard gave its boss, Mark Hurd, $25.4 million in cash last year, including a $1.45 million salary and $23.9 million in bonus money, according to compensation figures contained in the company’s proxy which it filed late on Inauguration Day.

Throw in stock awards that the company  valued at $7.9 million, and don’t forget $738,392 in other miscellaneous items, including  $98,000 worth of dividends paid on his restricted stock holdings and $71,482 of “relocation” compensation paid out to Hurd, who joined the company more than three years ago.

HP’s proxy presents the 2008 compensation two ways and comes up with different totals, depending on how you count it up. According to the compensation committee’s view of things, they paid Hurd $23.3 million during fiscal 2008. However, the company reported compensation paid to Hurd of $42.5 million, including incentive payments earned from prior years but paid in 2008.

Either way, it’s a lot of money.

Hurd exercised options for 400,000 shares last year, which he sold, making $10 million in the process. Also, 336,666 restricted shares due him vested, worth $15.7 million at that time. They are now his, free and clear.

 

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  • A departing employee

    HP employees need a Union. Never have I seen a company a company so ripe for one.

  • Disgrunted Employee

    i am hurt.. deeply hurt.. consistently a TOP performer over several years, worked my ass off with no overtime, etc.. but what’s the point? i am paid 40-50% less than the industry standard, no bloody hikes,no bonus and the bastards give back our money back to us stating supplementary bonus. i have lost faith, my morale is too low. hp sucks big time, let me get outta here soon, it feels horrible being here.

    The guys leading the company have no vision, all they are concerned is abt making short term profits. Mark Knife hurd will make enough money over the next few years by keeping the shareholders happy and will go out. The cream of the HP employees due to whom this company has become so big will move out and only losers will be left out. The company is all set for a disaster.

    The founders of this company will be greatly ashamed by wht these so called current leaders are doing for the company.

    With the economy booming back, I am all set to get out of this company for good

  • Happy i left

    I worked for HP for 4 years. A consistently high performer. Received a promotion ahead of team members that had been there for years….Pay was not going up. Bonus to be honest the first year was good and then crap after that. A normal pay rise would be worth allot more to me over time.
    I found myself doing less adn less because i was not motivated. So i left before i got trapped. The best thing i could have done. Its what HP want employees to do, probably not as quick as i did but definitlely long term employees.
    Stop hating and just leave. it will not get better…thats something Hurd can clearly guarentee. His pay this year highlights he does not give a shit. all the talk to paycuts and managing company finanaces. About how is pay is tied to the companies performance. Revenue is down 8% so how did he get a bonus???
    The only reason a bonus was paid this year was so that executives could get theres. Some employees get a small sum and are expected to be happy while they get millions……millions.
    HP will not be a good company to work for in the future. Mark hurd has let 40,000 employees go during his time with HP. He is not growing the company, he is reducing it and buying profitable companies with the money he is not paying to employees that deserve it.

    I left and i am happy i left, if you can do the same.

  • Happy i left

    I worked for HP for 4 years. A consistently high performer. Received a promotion ahead of team members that had been there for years….Pay was not going up. Bonus to be honest the first year was good and then crap after that. A normal pay rise would be worth allot more to me over time.
    I found myself doing less and less because i was not motivated. So i left before i got trapped. The best thing i could have done. Its what HP want employees to do, probably not as quick as i did but definitlely long term employees.
    Stop hating and just leave. it will not get better…thats something Hurd can clearly guarentee. His pay this year highlights he does not give a shit. all the talk to paycuts and managing company finanaces. About how his pay is tied to the companies performance. Revenue is down 8% so how did he get a bonus???
    The only reason a bonus was paid this year was so that executives could get theres. Some employees get a small sum and are expected to be happy while they get millions……millions.
    HP will not be a good company to work for in the future. Mark hurd has let 40,000 employees go during his time with HP. He is not growing the company, he is reducing it and buying profitable companies with the money he is not paying to employees that deserve it.

    I left and i am happy i left, if you can do the same.

  • http://www.siliconbeat.com Chris OBrien

    Hey all: See new post here with Mark Hurd’s 2009 salary numbers:

    http://www.siliconbeat.com/2010/01/15/hp’s-mark-hurd-made-242-million-in-fiscal-2009/

  • Craig

    You poor bastards. I could replace HP/Hurd with IBM/Sam and the comments would be the same. How the founders of these companies would be turning in their grave.

  • HP Employee

    I have read all the statements and can nothing but sadly agree with all of them.

    If Mark Hurd was half the man he pretends to be, and wants to lead by example, let him take a $1 (one dollar) salary AND bonus for a couple of years, till the company is out of the woods.

    With the $42 million of 2008 and $23 million of 2009, he can well afford it.

  • HP BEST EMPLOYEE

    Mark Hurd , you have no heart, you should know your salary compare with my husband salary is nothing , can you image we have survive for a month with salary usd 1000/month with 2 children , every month minus and still cut the salary how can ? remember when you died you cannot bring all the money to your coffin!

    As I know my husband already work the best for hp but get nothing
    include there is no time for family .. you should remember the company can be big because of the employee hardwork…

    and i guarantee you will be in hell….

  • HP Employee – K Rated !!

    Hurd your Pay for Performance policy only works for the HP Exec’s. The greed up top is discpicable. I’m a K rated employee and my salary (with bonus) is going down year over year.

    It’s time for the employees to go to the share holder meeting and vote these leeches off the board. Also, time for the US Gov to start taxing the hell out of companies like HP that are shipping jobs offshore just to fund these gross bonus’.

  • Kris HP employee

    MR mark Hurd shoud not call you MR..when people are strugling in your company and you sit and enjoy with your family…..it does not make any diffrence for you if the salary is cutt for employess….when HP can hire people from outside and pay them a better package who does the same work what we do and they are getting paid very well almost 3.75lac for the same job we do why not us who are strugling for so many years…does the same job and not paid well..no incentives..no proper management can you work like us and get paid the same salary you will come to know the pain in the ass you will quit the company and go…..but our curse will lead you to a very bad stage my curse for your family and what ever your planning to do to get succedded in life every thing should go for a waste
    we are waiting for the next HP CEO better resgin and look for a another job YOU….B….M…F….KR$

  • So sad

    I remember when I was a youngster and someone would say they worked for HP. WOW! HP USED to be a company of pride, and power and had a heartbeat. Its now a company full of layoffs, employee benefit cutbacks and overall horrible morale. It no longer carries the reputation it did long ago. Im sure this is not what Bill and Dave had envisioned in the garage years ago. Employees are no longer proud to work here and even more depressed at the thought of the CEO sucking it dry. HP will soon learn that when you keep kicking a workforce that is down, you soon will be surrounded by crap, and your competitor will take over your market share with YOUR EX EMPLOYEES!

    For a CEO Mark Hurd sure is dumb. Unfortunately he is not the ONLY one to blame for the current condition of HP. Dont get me wrong, he is disgusting, but he has cohorts in this. A board of Directors (who remember went to bed with Fiorina) He has been allowed this huge salary by the board. Although he could refuse (yeah right) the salary and do whats right for the company. But doing whats right for the company died with Bill and Dave. So sad.

    Time to wise up and realize even though the stock price is key to HP success, the employees are the reason you are successful in the end.

  • Totally Disappointed

    As if screwing the HP employees over by raising the cost of benefits and lowering their salaries, and increasing the work load/hours were not enough. Now HP takes away the employees cubicals (aka WorkStation). Now the employees have to walk around until they find a free cubical to work in for the day. Free cubical means one that is posted as a Free Workspace and does not have someone else’s stuff left in the cubical. I have yet to find a cubical with a phone that works, that is clean or has keys to the storage bins (in order to lock up my personal belongings for the day). Seems that some lower management has told their employees to “lay claim” to the Free Workstations by leaving stuff in the cube all the time. How childish to promote activity like this + moral lowering. Just one more way for HP to get people to quit…there is no way this is cost effective. I spend 15-20 minutes a day looking for a cube, unpacking my lap top, head set etc. BTW we have to carry all our work equipment to and from work everyday, because we are not assigned a secure location to store our equipment. Yes – you bet some stuff has been stolen already. I hate this company and am looking everyday for a new job.

  • Screwed up employee

    Mr Hurd you resign HP and employees will see good days very soon

  • used to work at HP

    Screw mark hurd and his buddies!

    I was WFR’ed in 2009 after working at HP for almost 13 years, and what do I get as a send off? I get to train 2 people down in Costa Rica to do my job before they WFR me. You know Marky baby you and the people like you are one of the reasons the USA is in shit it is in now. I hope someone steals your identity and you lose all that “non earned” income!

  • YET ANOTHER PISSED OFF HP EMPLOYEE

    AT last Mark Hurd Resigned……….
    Hope to see some good times…….

  • Another on

    He got what he deserved, he has been just fired!

  • HP lover

    Despite all salary cuts, which >90% of EMEA workers did not sign up to, I still love HP & even Mark is human: violating SBC and twisting expense claims.

    This is a true pay per performance company! If you perform you get your increases…..off cycle they call it. I really do not understand why all those people are so mad at Mark and his gang…it seems those are the creators why we had to shift to a pay for performance culture!

    Long live HP ! and hope we will even get a better CEO but will be difficult to select…….

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