Meg Whitman Joins the $1 CEO Club

Meg Whitman, Hewlett-Packard's (HPQ) new CEO, will be paid $1 a year and receive a nonqualified option to purchase 1,900,000 shares of HP common stock. The most famous $1 CEO was Steve Jobs, who recently stepped down from that post as he continues to struggle with his health. Jobs also owns about 5.5 million Apple shares, so his incentive was fairly clear. He has made the most of that by leading Apple to spectacular success.