HPE’s CEO Gets 35.6 Million Dollars after the Split of the Company in 2016

HPE’s CEO Gets 35.6 Million Dollars after the Split of the Company in 2016

The CEO of the renowned HP Enterprise, Meg Whitman was given 35.6 million dollars as a compensation for year 2016 after her tremendous efforts that pared down the growing rivalry and competition her company was facing. This competition arose from the service providers that were based on cloud.

Meg Whitman, at the age of 60, received options to choose from. One of them was the option of the stocks that were valued at 11.7 million dollars. On Monday, a regular filing took place, which stated that some of the stocks are to share the price of goals. For this price, the end of year is 31st October.

 

The other part of the compensation is some shares that are restricted and estimated at 19 million dollars. She will own all these shares if she continues her job throughout the year 2018 and keeps meeting some target performances. With this sort of compensation, her package has become more than twice of what it was when she operated Hewlett-Packard Corp. and arranged the fragmentation from HP Inc., the sister company.

A computer maker from California also gave a salary of about 1.5 million dollars and 3.08 million dollars as a bonus. To lure the executives who were recently hired, the company provided incentives to them so that their interests coexisted with those of the share-holders.

Whitman has devised new strategies to slim down the company. The company is currently focused on hardware and software and she is shifting the focus to the core data centers. Ever since the split occurred in the month of November 2015, she aims to operate on software units as a result of which the price of the stocks rose by 53%.  Meg Whitman also got one-time equity grants worth 15 million dollar.

The grants received by Hewlett-Packard had come to a tie with the charges made for the accounting. The grants are worth approximately 2.63 million dollars. For the year 2017, her equity awards will split between the shares that are restricted and the options that will be made available once the prices of the stocks increase from 15 % to 35%. However, the company has to meet some minimum targets for growth.

The other administrative staff also received funds. Michael Nefkens, the Vice President got a sum of 14.6 million dollars and the head of enterprise group, Antonio Neri received about 12.4 million dollars. The account adjustments of the current rewards rounded off to approximately 989,000 dollars and 411,000 dollars respectively.

Share this post

Leave a Reply