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Apotheker’s Pay Package Shows HP Confidence

October 3rd, 2010 elifemagz Leave a comment Go to comments

IDG News Service – Leo Apotheker might nonetheless have to infer that he can run a firm the size of Hewlett-Packard ( HPQ ), but his reward package is on standard with his predecessor.

According to an HP report filed with the U.S. Securities and Exchange Commission , Apotheker will consequence an annual income of US$1.2 million, the same warranted by Mark Hurd, who not long ago quiescent from HP after allegations of passionate harassment.

Apotheker, whose reign as SAP CEO finished in February and lasted beneath a year, will consequence an annual inducement of between 200 percent and 500 percent of his annual salary. Stock awards and options, a few of that vest over the forthcoming years, amount to $71.8 million at Friday’s batch value.

He’ll moreover obtain a $4 million signing bonus and $4.6 million in relocating expenses. Apotheker resides in France and will pierce closer to HP’s domicile in Palo Alto, California.

Hurd’s complete reward in 2009 was over $30 million.

When HP voiced on Thursday that it had selected Apotheker for CEO , many attention observers were surprised.

“I regard there’s a clarity of Leo has it all to infer as to helming a sufficient incomparable firm than SAP with a really far-reaching product portfolio,” mentioned China Martens, an researcher with The 451 Group. In that sense, his reward package seems large. “Leo’s a bit of yesterday’s man,” she said.

The reward package, however, shows that HP thinks Apotheker is a profitable choice, she said. The firm might hope that he can bring a more general concentration and a more software-centric prophesy to the business, she said.

Nancy Gohring covers mobile phones and clouded cover computing for The IDG News Service . Follow Nancy on Twitter at @idgnancy . Nancy’s e-mail residence is Nancy_Gohring@idg.com