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Meg Whitman, who was appointed chief executive of Hewlett-Packard on 22 September 2011, last week announced that she would be drawing a salary of only $1. Her severance package, meanwhile, is just $1.50. Contrast this with outgoing boss Leo Apotheker’s severance package, which is estimated at $13.5m. This is a man who has presided over a fall of 46 per cent – worth about $40bn – in his company’s share value during his 11-month tenure. (more…)
It is official: Hewlett-Packard is once again the biggest Fortune 500 company led by a woman.
After the close of the stock market on Thursday, HP, the world’s largest computer maker by revenue, announced that Meg Whitman, the former head of Ebay, would replace Léo Apotheker as chief executive.
Jack Welch – once a self-confessed “neanderthal” on women in business – is perhaps the last person you’d expect to fret about the “glass cliff”.
But when I interviewed him a few years ago, he said he was worried that if three prominent female chief executives failed to meet the big challenges they faced it would set back the cause of getting more women into the boardroom. The trio were Pat Russo at Lucent (later Alcatel-Lucent), Anne Mulcahy of Xerox and Carly Fiorina, then CEO of Hewlett-Packard. (more…)