Sunday, January 13, 2013

AP: Hewlett-Packard CEO Set for $15 Million Payday

Posted By on Sun, Jan 13, 2013 at 9:47 AM

More than a few Hewlett-Packard employees and shareholders are taking note of the company's latest filings that reveal HP CEO Meg Whitman could be in store for a $15 million payday.

Just two months ago, Hewlett-Packard officials announced that they were writing down $8.8 billion in a one-time accounting charge due to what they called "accounting impropietries, disclosure failures, and outright misrepresentations" by British-based Autonomy, which HP acquired in 2011.

But according to the Associated Press, Whitman is set to receive $1 in salary but also a $1.7 million bonus and approximately $220,000 worth of perks, most related to the use of company airplanes. Add to that figure about $7 million in stock awards and $6.4 million in option awards, according to the AP.

Shareholders will be asked to approve the pay package for Whitman and other top executives at Hewlett-Packard's Wednesday, March 20, annual meeting.

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