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HP names new director to board

Rajiv Gupta, chairman and CEO of chemical company Rohm and Haas, will join Hewlett-Packard's board of directors in January.

HP Gupta board
Raj Gupta will be HP board's 11th member. Hewlett-Packard

Rajiv Gupta will join Hewlett-Packard's board of directors beginning in January 2009, the company said Wednesday.

Since 1999 Gupta has been the chairman, president, and CEO 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 CEO, Raj Gupta has successfully guided Rohm and Haas through today's ever-evolving global business environment," Mark Hurd, CEO 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 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.