Once Most Underachieving CEO Meg Whitman’s Pay Package Slashed By 13% In 2015

February 10
4:32 AM 2016

Meg Whitman, CEO of Hewlett Packard Enterprise Co. and Chairwoman of HP Inc., has witnessed 13% decline in pay package during 2015. The compensation drop is due to the change in her leadership roles followed by the split of Hewlett Packard Co.

Meg Whitman has received total compensation of $17.1 million in the 2015 fiscal year compared to $19.6 million in 2014. The last year compensation is closer to that received in 2013, $17.6 million, according to a report published in Bloomberg.

Whitman has executed one of the highest-profile separations in corporate history, splitting the beleaguered Hewlett-Packard into two divisions in 2015. HP Enterprise Co. includes server, storage and networking products.

Meanwhile, HP Inc. deals with pc and printer arm. The road of separation has been rocky for Whitman, filled with layoffs, executive shuffles and a 30% decline in the stock price this year.

Joined to HP in 2011, Meg Whitman has split the HP with a hope to find better business successes by the two independent entities. The separation is aimed to provide the two companies more flexibility in responding towards changing markets and compete with the features offered by Dell and Lenovo Group.

Whitman joined the Hewlett-Packard's board of directors since her inception there. She has been named as the CEO in September 22, 2011. Her major decision during the first year in HP has been to retain and recommit the firm to the PC business which her predecessor considered for discarding.

Bloomberg has named Whitman as the 'Most Underachieving CEO' along with Apple CEO Tim Cook and IBM chief Virginia Rometty in May 2013. Stocks of the three tech giants have turned worst since initiation of their tenure. HP's stock has led the list of underperformers by 30 percentage points since her debut as the CEO.

However, HP Inc. CEO Dion Weisler's compensation has jumped 39% to $18.7 million compared to that in 2014. Prior to the new assignment, he has served as the Vice President of the combined HP's printing and personal systems group, reports RTT News.

Dion Weisler has received relocation benefits as part of a move to the HP Inc. headquarter in Palo Alto, California from Singapore, his previous place of posting. Adding the benefits of $2.4 million with tax equalization amount of $9.1 million, his total compensation has reached up to that amount, reports Infotechlead citing HP statement as the source.

Meg Whitman, once been termed as one of the 'Most Underachieving CEO' by Bloomberg, will be remembered for conducting the largest split in corporate world. However, the split may bring good for HP in near future, but has caused a cut in her yearly compensation by 13%. The event has drawn media attraction since CEO of other HP arm has received 39% boosted compensation during the same period. 

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