New HP CEO’s Salary: $1.2 million, Plus Bonuses
What did it cost Hewlett-Packard to sign Léo Apotheker as its new CEO? Quite a bit, as you might expect. According to a Securities and Exchange Commission filing, Apotheker will receive an annual salary of $1.2 million for the next two years, a $4 million signing bonus and an additional $4.6 million for relocation assistance (!?). For fiscal 2011, his incentive bonus will be 200 percent of his base salary, with a ceiling of 500 percent. In other words, Apotheker will make $3.6 million in salary next year–at the very least.