Hewlett-Packard CEO Pay Tops $16 Million on Option Awards

Hewlett-Packard Co. (HPG) Chief Executive Officer Meg Whitman, who agreed to a $1-a-year salary when she succeeded Leo Apotheker last year, received stock option awards that brought her compensation for fiscal 2011 to $16.5 million.

Whitman, 55, who is also president, received option awards valued at $16.1 million, plus $372,598 in other compensation last year, Palo Alto, California-based Hewlett-Packard said today in a filing to the Securities and Exchange Commission.

The executive was named head of the world’s largest personal-computer maker in September. Apotheker, 58, who was fired after less than 11 months at the helm, got $30.4 million in the year ended Oct. 31, according to the filing. That was 84 percent more than Whitman’s package.

Hewlett-Packard rose 2 percent to $29.07 at the close in New York. The shares have fallen 39 percent in the past 12 months.

To contact the reporter on this story: Ville Heiskanen in New York at vheiskanen@bloomberg.net

To contact the editor responsible for this story: Ville Heiskanen at vheiskanen@bloomberg.net

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