HP CEO Meg Whitman got a big pay raise in salary and bonus in 2014.
In 2014, HP paid Whitman a $US1.5 million salary. She also earned more than $US4.3 million in a cash bonus and nearly $US8.2 in stock awards and another $US5.4 million in stock options. All told, her pay package was over $US19.6 million in 2014, according to documents filed with the SEC on Monday.
Last year, she took $US1 salary, had a $US260,000 cash bonus, nearly $US4.4 million in stock awards and another $US12.7 million in options for a package worth $US17.6 million.
All told, that’s an 11% pay raise in 2014, and she’s up 28% since 2012.
Whitman is currently leading HP through a major transformation. After a couple of years of cutting costs and trying to grow revenues, in October Whitman announced that HP would be cleaving itself into two, HP Enterprise, led by her, and HP Inc., a PC and printer company led by Dion Weisler for which Whitman will be chairman of the board.
In the meantime, HP finished its 2014 with revenues down in every group but PCs. However, HP was slightly more profitable in 2014 than 2013, with net earnings up 3% to $US7.1 billion, excluding extraordinary items. And the stock price has more than doubled since the start of 2013, too.
Whitman is leading HP through a massive multi-year layoff, too. HP now says it expects to cut 50,000 jobs. After the company separates, executives hinted in November that more layoffs could occur.
Even so, HP is still a huge company that employs over 275,000 people.
Another big winner in 2014 compensation was Dion Weisler.
His total pay leapt from $US9.2 million in 2013, to $US13.5 million in 2014 with increases in salary, bonus, stock grants, stock options and a $US5 million payment to help him cover the taxes involved from his relocation from Singapore to HP’s headquarters in Palo Alto.