Hewlett Packard Enterprise CEO Meg Whitman's Total Pay Drops 13%

By Lisa Beilfuss 

Hewlett Packard Enterprise Co. Chief Executive Meg Whitman's total compensation was valued at $17.1 million last year, down 13% from 2014.

Ms. Whitman's base salary remained at $1.5 million, but she received a smaller bonus. Her nonequity incentive compensation declined to $2.5 million from $4.3 million a year earlier.

In its proxy statement, the company said Ms. Whitman's performance was "above target," noting the completion of the company's split from its former parent and a recent acquisition of Aruba Networks Inc., among other things. But Hewlett Packard Enterprise also said its incentive awards are heavily dependent on stock performance.

The compensation totals reflect Hewlett Packard's most recent fiscal year, which ended in Oct. 31. The company's split was effective Nov. 1.

Hewlett Packard Enterprise's separation from Hewlett Packard Inc., now known as HP Inc., was a move to untie the company's enterprise technology business from the weight of a flagging PC-and-printer market. Since the split in October, though, Hewlett Packard Enterprise shares have floundered, declining 25%.

The value of the CEO's stock and option awards, meanwhile, fell 4.6% to $12.9 million amid broad market declines.

Hewlett Packard Enterprise said Catherine Lesjak's total compensation package also fell 13% from a year earlier, to $7.4 million. Her base salary remained at $850,000, while her incentive compensation and stock and option awards fell.

Before the separation, Ms. Lesjak was chief financial officer at the former Hewlett-Packard. She remains with HP Inc. and is no longer affiliated with Hewlett Packard Enterprise.

Write to Lisa Beilfuss at [e-mail]

(END) Dow Jones Newswires

February 12, 2016 08:25 ET (13:25 GMT)

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