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HP (HPQ) CEO Whitman Gets USD16.5 Million Pay Package
February 4, 2012

New York, February 4 (FinanceEnquiry.com) - Hewlett-Packard Co. (NYSE: HPQ) has announced a $16.5 million compensation package linked to the company’s stock price, during the next two years, for its new CEO Meg Whitman. Last year, her pay package consisted entirely of 1.9 million stock options valued at $16.1 million. It is not very certain if she will ever be able to cash in most of the options as it will depend on the market value of the company.

The Palo Alto-based company previously disclosed that Whitman would be getting only $1 salary while she works on rebuilding the performance of HP that it had lost after Mark Hurd was ousted as CEO. Whitman’s predecessor did better than her as he got a severance package of more than $12 million in cash and let him keep most of the stock options that he had received. His 2011 compensation package was valued at $26.7 million apart from a $3.7 million stock incentive that was cancelled by HP. If Whitman is successful in her mission at HP, her stock options would more than offset her losses from her election campaign expenses for her failed attempt to become California’s governor in 2010.
 

 

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