HP's new CEO will take a $1 salary
30th Sep 2011 | 08:13
And the occasional bonus
Hewlett Packard's new CEO Meg Whitman will take a base salary of just $1, with Leo Apotheker's replacement looking to performance bonuses and share options to make her money.
Whitman was brought in after Apotheker's now infamous claim that HP was looking to spin off or sell its hardware business.
The former eBay CEO will not be expecting her wage to keep (much) food on her table, with the details of her 'compensation package' announced by the company, including the dollar base.
We're doubting that Whitman will be struggling to pay her heating bills, however; with any measure of success bringing significant bonuses and an option to purchase 1.9 million shares if HP under its 2004 stock incentive plan.
It won't be too hard for technophiles to name another CEO who opted to take just a dollar as a salary.
Steve Jobs famously took the 100 cents whilst he was in charge at Apple, and Whitman will be delighted if she can provide as much success for HP.