HP Inc., a global leader in technology and innovation, is one of the most recognized names in the tech industry. From personal computing devices to printing solutions, HP empowers millions of customers worldwide to shape their ways of working. At the helm of this iconic company is Enrique Lores, an experienced leader who has been steering HP’s growth and transformation since November 2019.
This blog dives deep into Enrique Lores’ professional journey, leadership impact, compensation package, and net worth, offering valuable insights for readers seeking detailed information about HP’s CEO. Whether you’re an investor, an employee, or just curious about executive salaries, this post has all the answers.
Who Is Enrique Lores?
Current Role
Enrique Lores serves as the President and CEO of HP Inc., a position he has held since November 2019. Under his leadership, HP has solidified its position as a global technology leader, operating in over 170 countries and delivering innovative solutions that enable personal and business growth.
Lores is known for his strategic vision, which emphasizes digital transformation, portfolio growth, and talent development. His leadership has earned HP several prestigious recognitions, including:
- Fortune’s World’s Most Admired Companies
- Barron’s 100 Most Sustainable Companies
- JUST Capital’s Just 100 List
- The Wall Street Journal’s Best-Managed Companies
Professional Journey
Enrique Lores has been with HP for over 35 years, starting as an intern after earning his degree in electrical engineering from the Polytechnic University of Valencia (UPV). Over the years, he has held senior leadership roles across HP’s various businesses, including Personal Systems, Print, Industrial, and Services.
One of Lores’ most notable achievements was leading the Separation Management Office during the 2015 split of Hewlett-Packard Company into HP Inc. and Hewlett Packard Enterprise. This corporate separation was one of the most complex in history, and Lores played a key role in streamlining operations, reducing costs, and fostering innovation.
Educational Background
- Degree in Electrical Engineering from Polytechnic University of Valencia (UPV)
- MBA from Esade Business School
In 2024, UPV honored Lores as an “honoris causa” doctor for his commitment to lifelong learning, technical expertise, and business success.
Other Roles
Beyond HP, Enrique Lores is active in several influential organizations:
- Chair of the PayPal Board
- Member of the International Advisory Boards of Atlantic Council, Esade Business School, and San Telmo Business School
- Participant in the World Economic Forum’s International Business Council and Alliance of CEO Climate Leaders
Enrique Lores’ Leadership at HP
Vision and Strategy
Since becoming CEO, Enrique Lores has spearheaded bold strategies to position HP for future growth. His initiatives focus on:
- Portfolio Growth: Expanding HP’s offerings to include innovative products and services.
- Digital Transformation: Leveraging technology to improve customer experiences and streamline operations.
- Talent Development: Investing in employee growth to foster innovation and leadership within the organization.
Key Achievements
Under his leadership, HP has:
- Expanded its market presence in over 170 countries.
- Invested heavily in sustainability initiatives, earning recognition as one of the world’s most sustainable companies.
- Enhanced customer experiences through groundbreaking product innovations and services.
Enrique Lores’ Salary and Compensation
2024 Fiscal Year Compensation
Enrique Lores’ total compensation for the fiscal year 2024 was $19,360,127. Here’s a detailed breakdown:
- Base Salary: $1,400,000 (7.2% of total compensation).
- Bonus: $2,380,000, tied to HP’s performance metrics.
- Stock Awards: $15,289,708, the largest portion of his compensation.
- Other Compensation: $290,419, covering additional benefits like retirement plans and healthcare.
Historical Context
- In 2023, Lores earned $19.458 million, slightly higher than his 2024 compensation.
- His base salary increased by $100,000 to $1.4 million in 2024.
- Starting November 1, 2024, his base salary was adjusted to $1.5 million to align with competitive levels among CEOs of peer companies.
Ownership
Enrique Lores directly owns 0.099% of HP’s shares, valued at approximately $26.07 million, further contributing to his net worth.
CEO Pay Ratio
The annual total compensation of Enrique Lores is significantly higher compared to the median employee pay at HP Inc., which is $66,816. This results in a CEO pay ratio that highlights the disparity between executive and average employee earnings.
Enrique Lores’ Net Worth
Estimated Net Worth
Enrique Lores’ net worth is estimated at $50–75 million, driven by:
- Annual salary and bonuses.
- Stock awards and equity holdings.
- Investments and other income sources.
Stock Ownership
As CEO, Lores holds significant shares in HP Inc., valued at $26.07 million. His stock awards play a major role in his overall wealth, aligning his financial interests with HP’s long-term performance.
HP Inc. Performance and CEO Pay
Impact on Compensation
Enrique Lores’ compensation is closely tied to HP’s financial performance. His ability to drive profitability, innovation, and sustainability directly impacts his earnings.
Revenue and Growth
HP has seen steady growth under Lores’ leadership, with significant investments in product innovation, market expansion, and sustainability initiatives.
Comparison with Other Tech Sector CEOs
How does Enrique Lores’ compensation compare to other leaders in the technology sector? Here’s a quick overview:
Tech CEO Salaries
- Dell CEO (Michael Dell): Estimated annual compensation of $20 million.
- Lenovo CEO (Yang Yuanqing): Estimated annual compensation of $17 million.
- Apple CEO (Tim Cook): Annual compensation of $98.73 million (2023).
While Lores’ salary is competitive, it is notably lower than some of the highest-paid CEOs like Tim Cook.
Public Opinion on CEO Salaries
Executive compensation often sparks debate. Here’s a breakdown of perspectives:
Supporters’ Perspective
- High salaries are justified for CEOs who drive profitability and innovation.
- Lores’ pay reflects his leadership and ability to navigate challenges like sustainability and digital transformation.
Critics’ Perspective
- Some argue that CEO pay should be more balanced with employee wages.
- The disparity between executive and median employee pay raises concerns about income inequality.
Historical CEO Compensation at HP
HP Inc. has a history of rewarding strong leadership. Previous CEOs, including Meg Whitman and Dion Weisler, earned competitive salaries that reflected the company’s performance and growth.
Key Insights into CEO Compensation
Understanding Enrique Lores’ salary and net worth provides transparency into corporate governance at HP Inc. Here are the key elements of CEO compensation:
- Base Salary: Reflects the CEO’s role and responsibilities.
- Performance Bonuses: Tied to HP’s financial performance and innovation.
- Stock Awards: Equity compensation incentivizing long-term company growth.
- Other Benefits: Additional perks such as retirement plans and healthcare coverage.
Conclusion
Enrique Lores has been a transformative leader for HP Inc., driving growth, innovation, and sustainability. His compensation package, while substantial, reflects his contributions to the organization and the technology industry. With an estimated net worth of $50–75 million, Lores continues to play a pivotal role in shaping HP’s future.
As HP Inc. expands its portfolio and strengthens its market presence, Lores’ leadership will remain a critical factor in the company’s success.
FAQs
- Who is the CEO of HP Inc.?
Enrique Lores is the President and CEO of HP Inc., serving since November 2019.
- What is Enrique Lores’ annual salary?
In 2024, his total compensation was approximately $19.36 million, including a base salary of $1.4 million.
- How much is Enrique Lores’ net worth?
Enrique Lores’ net worth is estimated at $50–75 million, driven by salary, bonuses, and stock awards.
- How does Enrique Lores’ pay compare to other tech sector leaders?
His compensation is competitive but lower than some of the highest-paid CEOs, such as Tim Cook of Apple.
- What factors determine Enrique Lores’ compensation at HP Inc.?
His pay is tied to HP’s financial performance, innovation, and long-term strategic initiatives.