HP shareholders are happy with board changes

MAKER OF EXPENSIVE PRINTER INK HP has won approval for the top deck shuffle it carried out after ex-CEO Mark Hurd left in a cloud of scandal, just months after having done it.

Investors gave their approval to the changes, but the board was given a telling off about how much it pays the company's top dogs, which surely will not have surprised anyone.

According to a report by the the Associated Press, about half of all shareholders said that they were unhappy with current executive compensation packages.

At the annual meeting, about half of HP's shareholders expressed their unhappiness with HP's pay packages for top managers by casting votes against HP's executive compensation policies.

It might be too late for all that though, as Hurd, who was disgraced and accused of fiddling his expenses slid out of HP with tens of millions of dollars in compensation, while Leo Apotheker joined the firm with a ticker-tape parade like shower of salary.

It is clear then that HP knows how to waste money, and that this is something that its shareholders are particularly concerned about.

HP added five people to its board in January following the Hurd firing fallout, bringing the total up to seventeen. Although four were expected not to stand for re-election during the current meeting, shareholders will be praying that the remaining ones can get along. µ