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HP CEO Meg Whitman steals $15 million from her company

McGruber (1417641) writes | about a year ago

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McGruber (1417641) writes "Hewlett Packard had an awful year. It filed a complaint against display manufacturers Chunghwa Picture Tubes and Tatung Company of America, to recover damages it claims it suffered as a result of their involvement in a price fixing scheme (http://hardware.slashdot.org/story/12/12/05/0613236/hp-sues-over-lcd-price-fixing). It reduced its workforce last year by 17,800 employees, but was still pissed off when key IT workers left unexpectedly and took jobs with HP customer General Motors (http://slashdot.org/story/13/01/03/0137211/hp-cuts-workforce-by-5-looks-to-probe-gm-hires). It claimed $8.8 billion in losses it attributed to having been defrauded by Autonomy (http://yro.slashdot.org/story/12/11/20/1651233/meg-whitman-says-hp-was-defrauded-by-autonomy-hp-stock-plunges), accusations that former Autonomy CEO Mike Lynch claimed that HP 'is watering down the accusations it had levelled against him over the accounts filed by his old software company.' (http://news.slashdot.org/story/12/12/30/171214/autonomy-chief-says-whitman-is-watering-down-hp-fraud-claims). HP even caused 37,000 Food Stamp recipients to lose their EBT (a credit card paid for by the government) benefits when HP botched the upgrade of the California welfare computer system (CalWIN).

Despite all that, HP CEO Meg Whitman was paid extremely well, according to HP's preliminary proxy form: "The filing shows that CEO Meg Whitman earned more than $15.3 million during 2012, even though her base salary was only $1. The majority of her pay came in the form share and options grants worth more than $13 million, almost none of which are yet vested. She also earned a $1.7 million bonus under HP’s PfR or “Pay for Results” bonus plan. (http://allthingsd.com/20130111/hp-ceo-whitman-earned-15-million-in-2012-filing-shows/)"

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