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Technology Stocks : Hewlett-Packard (HPQ)
HPQ 26.17-1.8%3:59 PM EST
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To: TimF who wrote (4093)8/30/2007 10:58:45 AM
From: Elroy  Read Replies (1) of 4345
 
To the extent that Hurd's performance is the reason that the company has done well, his compensation surely has been worth it. I haven't really followed the company in great detail, but in general terms I don't have a problem with highly compensating CEOs of large companies that do well.

I have trouble crediting Hurd for the good performance of HPQ since he joined. If you recall he joined the company, and then HPQ had a fairly significant "beat the numbers" quarter two months later, and they have been delivering consistently positive results since then. So he may be a great CEO, but no new CEO affects a company the size of HPQ in a few months. His affect on the company would normally begin to appear in the financial results 12 to 18 months AFTER he joined and implemented his changes.

So, he's (obviously) done a good job of keeping a good thing going, but the positive results which occurred IMMEDIATELY after he joined HPQ should be credited to Fiorina's tenure. I think she actually got the ship sailing in the right direction, and got the boot from the board about 2 months before her affect was about to appear in financial numbers. If they had waited one more quarter to boot her, they probably would not have been able to (if they same numbers had come out of the company that came out immediately following her ouster).

If you ask me, I think Fiorina got the shaft from the board.
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