HP raises CEO Whitman's salary to $1.5M from $1

Dec 17, 2013

Hewlett-Packard is giving CEO Meg Whitman a huge pay raise as she enters the third year of her attempt to turn around the slumping personal computer and printer maker.

Regulatory documents filed Tuesday disclose that Whitman's is soaring to $1.5 million from $1. The raise is retroactive to Nov. 1, the start of HP's fiscal year.

Whitman is a billionaire who had agreed to limit her salary to $1 annually when HP hired her as CEO in September 2011. The sacrifice came as HP prepared to eliminate nearly 30,000 jobs to offset a drop in revenue from declining PC sales amid a shift to mobile computers.

HP's revenue is still falling, but the company's stock has risen by 20 percent since Whitman took over.

Explore further: HP issues upbeat guidance for 2014 (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

HP tabs software exec as chief operating officer

May 30, 2012

(AP) — Hewlett-Packard Co. has promoted Bill Veghte to chief operating officer, the latest expansion of his responsibilities since the slumping technology company hired Meg Whitman as its CEO eight months ago.

HP posts $1.4B fiscal 4Q profit

Nov 26, 2013

Hewlett-Packard posted net income of $1.4 billion for its fiscal fourth-quarter, as cost cuts stemming from its ongoing restructuring more than offset the effects of sluggish computer demand.

$13.2 mn for Apotheker, $1 pay for Whitman at HP

Sep 29, 2011

Ousted Hewlett-Packard chief executive Leo Apotheker is leaving with compensation worth at least $13.2 million while his successor, Meg Whitman, will receive an annual salary of $1.

Recommended for you

Ticketfly buying WillCall for on-premise data

19 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0