Hewlett-Packard raised total compensation for chairman and chief executive Meg Whitman by 11 per cent ahead of the company's expected split into two publicly traded entities by the end of this year.

Ms Whitman, who will run the new HP Enterprise focused on corporate customers, received $19.6 million in 2014 compared with $17.6 million a year earlier. Dion Weisler, HP's printer and personal computer chief and future chief executive of HP, received a 48 per cent raise to $13.5 million.

Whitman’s initial salary was $1 per year. During 2014, this was raised to $1.5 million as HP’s turnaround progressed.

On October 6th, it said it was splitting into two companies: the PC and printer business will become HP, while HP Enterprise will offer corporate hardware and services. – (Bloomberg)