Tuesday February 26, 3:08 pm Eastern Time
HP mulled high pay for Fiorina, Capellas - Hewlett
SAN FRANCISCO, Feb 26 (Reuters) - Hewlett-Packard Co.(NYSE:HWP - news). considered paying Carly Fiorina and Michael Capellas, the chief executives of HP and Compaq Computer Corp.(NYSE:CPQ - news) a total of $115 million over two years, including salary, bonus and options, after the companies merger, Walter Hewlett said on Tuesday.
Hewlett, a merger opponent, is an HP board member who sits on HP's compensation committee, which earlier agreed to put off final negotiations for Fiorina and Capellas until after the $21 billion deal was done. He said in a statement he had attempted to persuade HP to disclose the packages.
Hewlett said the compensation committee had discussed two-year contracts for the chief executives, who have declined merger retention bonuses.
For Fiorina, compensation had included an annual salary of $1.6 million, a target annual bonus of $4.8 million and 6 million stock options with a ``total estimated current value'' of $57 million.
The package considered for Capellas was an annual salary of $1 million, a target annual bonus of $3.8 million and 4 million stock options with a current value of $38 million. |
