A tidy payday for HP's Meg Whitman

Despite a salary of just $1 in 2013, Hewlett-Packard CEO Meg Whitman earned $17.6 million in total compensation from the Palo Alto technology giant she is trying to revitalize.

The vast majority of Whitman’s pay was for stock awards and other financial options, the company said in a regulatory filing Monday.

HP’s board also praised Whitman, who became CEO in 2011, noting that her achievements include “generating over $2 billion in labor savings in fiscal 2013,” as well as “creating effective business unit strategies and plans,” and “meeting with approximately 1,000 customers and partners.”

Whitman had received a salary of just $1 “reflecting the company’s turnaround,” the filing said. However, it said that amount has been boosted to $1.5 million for 2014 to be “consistent with the median of our peer group.”

Photo by LiPo Ching, Mercury News

 

Steve Johnson Steve Johnson (275 Posts)

Steve Johnson covers the microchip industry, cyber security and the big-technology sector that includes Hewlett-Packard, Oracle and Cisco Systems.