HP's Apotheker Leaves with $13 Million; Whitman on the Books for $1 a Year



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What started this mess...

1.) July 1999, Carly Fiorina, the first WOMAN CEO of a company in the Dow Jones Industrial Average. 

2.) On September 3, 2001, SHAREHOLDERS (who knew nothing about the technology business), passed a vote to merge with Compaq.  The vote occurred after a proxy fight between SHAREHOLDERS and Walter Hewlett who objected to the merger.


In the good ol' days, circa 1970's, Steve Wozniack co-founder of Crapple originally designed the Crapple 1 computer while working at HP.  HP had innovators, inventors and people with an imagination and know-how in technology.  HP allowed them to "do their stuff".  Shareholders now run the corporation and know nothing about technology or how to run a business.  Dragging in a bunch of drunk gamblers from Las Vegas probably would do a better job at appointing a qualified CEO than what HP has now. 




The salary for a CEO really isn't important when at a large corp. Everyone knows the money is in the bonuses and stock options they receive, that's why the trend nowadays is a $1.00 salary. But it does make the less informed think that they actually care, which they don't.



Uh, what are the uninformed supposed to think they care about, exactly? It's not a secret where CEO compensation comes from. Anyone who cares to read a 10-K knows exactly how they're paid. Since compensation drives behavior, it's equally easy to see what their priorities are.

In this case the $1 salary is important. Meg won't be paid much if she doesn't turn the company's stock around. In order to turn the stock around, profit margins and revenues must increase. If they don't, she'll have to rely on the billions she already has.



It's clear that Meg got/took the job with her first priority being to increasing shareholder value. She won't get paid squat unless she does. I believe Steve Jobs was on the same salary while he was CEO of Apple.



So Leo basically wipe dout the value created by Hurd. Good job.



And he did it all in less than a year. Since I work for a competitor, I wish they would have kept Leo around forever.

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