HP CEO Meg Whitman
Meg Whitman’s base salary increases from $1 to $1.5 million.
Daily Finance reported that HP has increased the base salary of its CEO, Meg Whitman, from the token $1 (€0.73) she has received since taking up her position in September 2011 to $1.5 million (€1.1 million) – a figure more in-line with CEOs of other major IT companies.
The new base salary, which has reportedly been effective since 1 November, comes after the vast majority of Whitman’s pay previously has been performance-based; with an SEC document filed in Janaury 2013 reportedly showing that Whitman’s compensation package for the few months in 2011 after she was made CEO totalled the $1 base salary plus $372,598 (€273,346) in “other compensation”.
Meanwhile in 2012 she received a $1.7 million (€1.2 million) bonus, “vested stock options related to her service on the HP board prior to becoming CEO valued at $84,249 (€61,807)” as well as further compensation of $220,901 (€162,058) on top of her $1 base salary, bringing the total annual compensation package for the year to $1.992 million (€1.461 million).
During her role as CEO of HP, Whitman has enforced several measures to cut costs along with strategic business initiatives that has begun to regain investors’ confidence in the company, with HP shareholders reportedly seeing an 89 percent increase in share price so far. However, the OEM’s stock is “barely more than half” of its prices in 2010, which were over $50 (€37) per share.