Hewlett-Packard CEO Pay Tops $16 Million on Option Awards
February 06, 2012, 8:28 PM ESTBy Heather Perlberg
(Updates with former CEO’s pay in third paragraph.)
Feb. 3 (Bloomberg) -- Hewlett-Packard Co. Chief Executive Officer Meg Whitman, who agreed to a $1-a-year salary when she succeeded Leo Apotheker last year, received stock option awards that brought her compensation for fiscal 2011 to $16.5 million.
Whitman, 55, who is also president, received option awards valued at $16.1 million, plus $372,598 in other compensation last year, Palo Alto, California-based Hewlett-Packard said today in a filing to the Securities and Exchange Commission.
The executive was named head of the world’s largest personal-computer maker in September. Apotheker, 58, who was fired after less than 11 months at the helm, got $30.4 million in the year ended Oct. 31, according to the filing. That was 84 percent more than Whitman’s package.
Hewlett-Packard rose 1.2 percent to $28.83 at 9:37 a.m. in New York. The shares fell 39 percent in the 12 months through yesterday.
--Editors: Jeffrey Tannenbaum, Ville Heiskanen, John Lear.
To contact the reporter on this story: Ville Heiskanen in New York at vheiskanen@bloomberg.net
To contact the editor responsible for this story: Ville Heiskanen at vheiskanen@bloomberg.net
