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HP investors have put CEO Mark Hurd under fire during its annual general meeting this week. Hurd was questioned about the increasing competition in the server market, with Cisco collaborating with VMware to strengthen its position in the industry and IBM acquiring Sun Microsystems. Hurd maintained he was not a bit worried with Cisco’s move and declined to comment on IBM and Sun’s integration.
"I don’t remember a day where the market wasn’t competetive. I think you’ll continue to see competition in the market. I couldn’t be more confident in the future of HP," Hurd explained.
The meeting aimed to re-elect board members and select a new accounting firm. The rest of it continued with questions from shareholders of the company. One question even centered on Hurd’s salary and his bonus, which reportedly reached $42 million.
Hurd retorted the bonus was aligned to HP’s performance during the last three years. He then added he was not anticpating to receive much in the future years.
