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Meg Whitman to Accept One-Dollar-Per-Year Salary

By: , 9/30/2011 12:34 pm | 13 comments

New CEO of HP, Meg Whitman, will accept a one-dollar-per-year (a.k.a. one-seven millionth of Apotheker’s parachute) base salary for her new duties at the tech giant according to the Wall Street Journal.  This is not the first time a CEO has taken a base salary like this.  Steve Jobs and the 3 Amigos from Google have also done this in the past.

Fear not for Mrs. Whitman. She’ll still be able to pay her bills.  In addition to her wealth accumulated previously, she also has the option to purchase 1.9 million shares of HP stock over the next eight years.  Her performance will be key though, because she will not be allowed to cash out on most of those until such time as HP’s stock price swells to 120% its current value.

We at WOR humbly suggest that reinstating webOS hardware would be a lock to get her those options.

Source: Wall Street Journal

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About Adam Doud

Family Man, @DeadTechnology, webOS Ambassador, Geocacher, Baseball/Hockey Fan, All around geek with unrequited love for webOS. Treo 650 -> Centro -> PrePlus -> Pre2 -> Veer -> Pre2 -> Morris, the Panda-Veer -> Andre the Pre3 Co-host to the ChicagowebOSMeetup group - @ChiwebOSMeetup
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  • PalmOn

    A dollar and a dream! Go Meg, go! And yes, I really mean it.

    • Dutch

      Did I just hear a boy cry ‘wolf’?

      • PalmOn

        When I said “go”, I meant don’t let the door hit you (Meg) in the you know what.

  • http://AToTheT.org/ Ajay

    She probably accepted it because she knew she’d be getting a fantastic firing bonus if she didnt do a good job. (she and the hp board are useless)

  • Malette

    This has the smell of marketing. I doubt she would only be making $1 a year. Besides stock options there are bonuses and more benefits. The salary rate is only a cover to seem great, but none the less could be a good move. Build stock holder confidence. I think better than this is would be to deliver a goals statement with plans to achieve it. In it directly addressing webOS, HP computer hardware, and more. I for one don’t care what she’s making, I care what she plans to do with the company and how she expects to get there, but that’s just me.

    • JDM

      Yeah, it would be great to hear her dream and goals for the company.

    • http://twitter.com/2254 Michael Marr

      Capital gains are taxed at 15% whereas million dollar salaries are taxed at the ridiculous rate.

  • http://twitter.com/jdmulloy Joe Mulloy

    She’ll probably get a sales commission from selling off the company piece by piece.

  • A2D2

    Just 8 cents shy of being able to hit the McDs drive-thru. 
    – sent from webOSroundup XL

  • TimmyB

    Wow, in the year 2110, she’ll be able to buy a Touchpad from the HP Employee site!  I wonder if they will have any left in stock?

  • Deane

    Meg will do the right thing by us just wait & see. A fool she is not.

  • Will …..I Couldn’t Agree Mor

    It’s difficult to imagine anyone changing HPs direction south! Even a person such as Whitman. For the short term, people like Whitman may change the numbers to appease it’s shareholders. But in the end, HP will not be the H E W L E T P A C K A R D Founders (david) invisioned. : the steve jobs bill gates etc. Or like the google boys!! Where they are the visionarys of their companies. Such as it goes there will be new visonary individuals who will carry all of us into the next craze. bgood by HP. Thx for great printers

  • Flempitsky

    Forhot to mention 2.4 million bonus.  Don’t cry…
    – sent from webOSroundup XL