Posted on 02/09/2005 5:25:29 AM PST by Max Combined
PALO ALTO, Calif. - Hewlett-Packard Co., a maker of personal computers, printers and servers, said Wednesday that Carly Fiorina has stepped down as chairman and chief executive officer, effective immediately.
"While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," said Fiorina in a press release.
Hewlett-Packard shares closed Tuesday at $20.14 on the New York Stock Exchange (news - web sites), but rose $2.24, or 11 percent, to $22.61 in premarket activity.
Robert P. Wayman, HP's chief financial officer, has been named interim chief executive officer and was appointed to the board of directors. Patricia C. Dunn, an HP director since 1998, has been named non-executive chairman, effective immediately.
The board will begin a search for a new CEO immediately. Wayman, a 36-year veteran of the company, will also retain his CFO responsibilities. The company does not expect to make any additional structural changes or executive leadership changes at this time.
The company plans to report its first-quarter financial results on Feb. 16. Hewlett-Packard expects results to be in line with consensus analyst expectations, after adjusting for the effects of the previously announced Intergraph settlement.
Wow! The poster child for Women Can Too Be Tough CEOs bites the dust. Does anyone have the background on this?
Sue Herera's orgasims will cease forever with this news.
Bump
She was obviously no match for Michael Dell, but she did manage to kill Compaq and send hundreds of Houstonians to the ranks of the unemployed. I hope she can't find another job, either...though I'm sure she got a golden parachute so they could dump her. Compaq people didn't.
I guess the golden girl has lost her shine.
Any HP experts (or better yet, Freeper-HP employees) out there who can give us the inside scoop?
she had an untapped goldmine in the Ipaq. They managed to poop that one out too.
I am surprised this is IMMEDIATE. There is much more to this tna meets the print. I wonder if she will be sued for the compensation she recieved for the Compaq merger?
Good news. HP's build quality has gone into the toilet since the beginning of her reign. I bought an HP laptop a year ago and am already having to replace it.
This is a shame because HP used to be known for high quality products.
Regards, Ivan
Don't forget how much she helped Bell Labs.
Any insiders have something to correct or add?
She and Tina Brown, who managed to wreck several major magazines both here and in Britain. Yet they both manage(d) to land on their feet. Go figure.
This will be interesting. How many years has it been since the Compaq merger/buyout? The two companies (from my perspective as a servicer) still aren't well integrated.
I haven't seen my fellow employees this happy in a long long time....I swear, if it were nice out, and we were allowed, we'd probably be starting a kegger at lunch....
It's ALL CARLY'S FAULT.
Good riddance.....the woman ruined everything she touched.
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