HP's Meg Whitman made $15.4 million in fiscal 2012

Sat Jan 12, 2013 11:12am EST
 
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By P.J. Huffstutter

CHICAGO (Reuters) - Chief executive Meg Whitman received compensation worth about $15.4 million in 2012 as Hewlett-Packard Co. posted a net loss in her first full fiscal year in charge, according to a federal proxy filing.

Whitman's base salary was just $1. Her bonus was $1.7 million, while the remainder of her compensation was granted in the form of Hewlett-Packard stock options, stock awards and other income, according to the proxy filed with the Securities and Exchange Commission on Friday.

Her compensation was about 70 percent of previous targets, as the company posted a net loss.

Whitman - the former EBay executive and one-time Republican candidate for California governor - took over as HP's chief executive in the fall of 2011, at a time when the hardware manufacturer had been rocked by a decade of troubled deals, corporate espionage and allegations of sexual harassment in the executive suite.

Since taking over the reins, Whitman has tried various strategies to turn around the Silicon Valley titan, including plans to cut an estimated 29,000 jobs over the next two years and reverse a previous corporate decision to spin off HP's PC division.

But years of corporate tumult, and the company's shares dropping by nearly 39 percent in the past year, has had investors putting the company's board under intense scrutiny.

Whitman is ranked 285th on the Forbes list of the top 400 richest people in America, and 18th on the Forbes list of the World's 100 most powerful women.

CHANGES TO EXECUTIVE PAY   Continued...

 
Hewlett Packard CEO and President Meg Whitman attends the Allen & Co Media Conference in Sun Valley, Idaho July 12, 2012. REUTERS/Jim Urquhart