Last year, our most popular post by far was “HP’s Mark Hurd made $42.5 million in fiscal 2008.” The post has drawn a whopping 254 comments, with more still coming in.
“The filing showed that Hurd, 53, got a salary of $1.3 million, down from his $1.5 million salary the year before.
His base pay was cut 20 percent in 2009 as part of companywide pay cuts announced in February. But Hurd recouped the difference with his $1.2 million bonus, which HP said included the amount its executives’ pay was reduced under the pay-cut plan. At the time of the cuts, Hurd said that all employees might wind up making up the difference in the form of bonuses if the company performed well.
Hurd received a $5.3 million bonus the year before.
HP, which is based in Palo Alto, said some executives’ bonuses were hampered by the fact the company’s revenue in all business units were below internal targets for bonuses set in January 2009, “at a time when the full extent of the economic downturn that had begun in the fall of 2008 was not known.”
Now, the story says that was down 29 percent from the before. Still was he worth it? Let us know what you think.