HP raises boss’ salary to $1.5m

Comment on this story


Meg Whitman

Reuters.

Meg Whitman, chief executive officer and president of Hewlett-Packard.

San Francisco - Hewlett-Packard is giving chief executive 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 annual salary is soaring to $1.5 million from $1.

The raise is retroactive to November 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 chief executive 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. - Sapa-AP


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks