HP to Pay Meg Whitman $1, Léo Apotheker Millions

By Sajid Farooq
|  Friday, Sep 30, 2011  |  Updated 11:40 AM PDT
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HP to Pay Whitman $1, Apotheker Millions

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HP will pay Meg Whitman $1 a year for her base salary but she is eligible for millions more in bonuses.

Former Hewlett-Packard CEO Léo Apotheker may have gotten a bum deal by being pushed out after only being on the job 11-months but don't feel too bad for him.

Apotheker will reportedly walk away from HP with $13.2 million in cash and stock. He will walk away with about $7.2 million in cash.

The short-term CEO was booted from the board room last week when HP decided to hire former gubernatorial candidate and eBay CEO Meg Whitman.

Whitman will be join the company on a salary familiar to the likes of Steve Jobs and Larry Ellison. She will make $1 a year on the books. Apotheker's base salary was $1.2 million.

But don't feel bad for the tech billionaire either. Whitman's real pay day will come in the form of bonuses and stock options.

Whitman will be eligible for stock options and an annual bonus reportedly of up to $6 million a year.
 

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