Incoming HP CEO will have a $1 salary

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Meg-Whitman-11.jpgIn these hard economic times, we’re all having to make a few sacrifices. I’m now eating Tesco’s own-brand caviar, and have managed to cut down to just four bottles of champagne a week. HP’s new CEO Meg Whitman is feeling the monetary burn too; she’s taken the post with just a base salary of $1.

The former eBay CEO, replacing Leo Apotheker, was brought in following Apotheker’s claims that HP were looking to sell off its hardware arm.

That low wage isn’t to say Whitman wont make a pretty penny from her new post. Her “compensation package” will offer plenty of room to earn significant bonuses, as well as the opportunity to nab 1.9 million shares in HP through the company’s 2004 stock incentive plan.

Regardless, a $1 salary has become a somewhat-lucky figure in tech circles. Steve Jobs of Apple also famously took just a dollar for his wage when he was 9-to-5 at Apple. Things worked out pretty well for them, wouldn’t you say?

Via: All Things Digital

Gerald Lynch

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