101. HP Forces Fiorina Out Over Management Issues.
- Author
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Scoblete, Greg
- Subjects
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PERSONNEL management , *CHIEF executive officers , *CORPORATE governance - Abstract
This article reports on the ouster of Hewlett-Packard chairman and CEO Carly Fiorina as of February 2005. Hewlett-Packard's chairman and CEO Carly Fiorina left earlier this month with its board citing disagreements over her day-to-day management of the company. In a conference call with reporters, Patricia Dunn, director and non-executive chairman of the board, said the company's board asked Fiorina to step down. The decision, which the board has been deliberating for weeks and longer, centered on questions of execution, not the company's strategic direction or financial results. The search for Fiorina's replacement begins immediately. In the interim, Robert Wayman, chief financial officer and 36-year Hewlett-Packard veteran, will step in as CEO, identifying his immediate responsibilities as executing on the strategy as it is laid out. Wayman noted that despite fierce competition from other PC vendors such as Dell and Gateway, the company's consumer PC business has made great progress. They have gone from substantial losses to reasonable profits, though there are still improvements to be made. The company's consumer imaging group has also performed well, reaching leading market shares in several categories. The enterprise and server business of Hewlett-Packard, on the other hand, have been a source of significant disappointments.
- Published
- 2005