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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.
Meg Whitman and Carly Fiorina’s failures to win seats in the US midterm elections have been widely reported with a that’ll-teach-them self-righteousness that I think is misplaced. The takeaway from this is not that the former chief executives of eBay and Hewlett-Packard threw millions of greenbacks into the ring and lost: it’s that they did it at all. (more…)