Management Toolkit

HP announces new director to board

Erica Ogg CNET News

Published: 25 Sep 2008 09:03 BST

Rajiv Gupta will join HP's board of directors beginning in January 2009, the company said on Wednesday.

Since 1999 Gupta has been the chairman, president and chief executive of Rohm and Haas, a chemical company. Before that he held various other positions at Rohm, where he started in 1971. Gupta also serves on the board of electronics maker Tyco International and The Vanguard Group.

"For nine years as chairman and chief executive, Raj Gupta has successfully guided Rohm and Haas through today's ever-evolving global business environment," Mark Hurd, chief executive of HP, said in a statement. "We look forward to welcoming his financial, operational and corporate governance expertise to the HP board of directors."

Gupta will be the 11th member of HP's board. The perks include an annual salary of $100,000 (£54,000) as well as $175,000 in HP stock, according to the company's filing with the Securities and Exchange Commission. Also, if Gupta attends any more than six board meetings, they'll give him $2,000 in cash for each of those.