Hewlett-Packard CEO ousted
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Manufacturing News, Source : The Manufacturer US
Published : 14 Mar 2005 21:19
When Hewlett-Packard announced that Carly Fiorina, one the most powerful women in the US business world, had stepped down as chairman and chief executive officer, it shook the computer industry.
When Hewlett-Packard announced that Carly Fiorina, one the most powerful women in the US business world, had stepped down as chairman and chief executive officer, it shook the computer industry.
It seems likely, however, that Fiorina will land on her feet. A Bush administration official was recently reported in the New York Times as saying that Fiorina was on the short list of possible replacements for outgoing World Bank head James Wolfensohn.
In the wake of Fiorina’s departure, Robert P. Wayman, HP’s chief financial officer, was named chief executive officer on an interim basis and appointed to the board of directors.
Fiorina joined HP in 1999. Due in part to an HP merger with Compaq Computer, which she helped push through in 2002, she had been heavily criticized by investors.
“While I regret the board and I have differences about how to execute HP’s strategy, I respect their decision,” said Fiorina in a statement. “HP is a great company and I wish all the people of HP much success in the future.”
Fiorina’s hasty departure was followed by that of Allison Johnson, HP’s senior vice president of marketing. Although Johnson was one of Fiorina’s closest advisers, company sources say her move is unrelated to Fiorina’s departure. After five years at HP, Johnson is headed for computing giant Apple Computer, one of her former employers, where she will become vice president of worldwide marketing communications, reporting to CEO Steve Jobs. Her decision was made prior to the board’s request for Fiorina’s resignation, but she was asked to hold on until that announcement was made.
HP’s products span the IT infrastructure, global services, business and home computing, and imaging and printing markets. In the 2004 fiscal year, HP revenue totaled $79.9 billion.
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