Pay for performance

carlson
NW Reading

An item in the Seattle Slog notes the serious reversals Hewlett Packard Company has endured in the last year. Not small reversals, either. There was the approaching $8.8 billion in charges, much of that inuring to HP, for its associated British software company Autonomy. And the close to $11 billion in writedowns just in the last quarter for the EDS services division.

The piece by Goldy goes to note the impact on the top executives behind these moves and others: “Former HP CEO Leo Apotheker, who initiated the acquisition, earned $30.4 million last year. Current CEO Meg Whitman, who closed the deal, and who approved the deal as a board member, earned $16.5 million last year for just a few months work. Chairman of the board Ray Lane, who hired and quickly fired Apotheker, and who has presided over a string of disastrous acquisitions, earned $10.6 million last year in exchange for his shrewd business insight.”

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