just procrastinating

Wednesday, February 09, 2005

'Bout Time
I was working for a consulting firm that had HP as a client and when they decided to merge with Compaq, I said it was a bad idea. Finally, HP gets rid of Carly:
Fiorina Forced Out As Hewlett-Packard CEO

Carly Fiorina's Reign at Hewlett-Packard Co. Ends As Company's Board Forces Her Out As CEO

SAN FRANCISCO (AP) -- Carly Fiorina's nearly six-year reign at Hewlett-Packard Co. ended Wednesday as the company's board forced her out as chief executive, disappointed by her efforts to make the technology giant whose strongest business is printers more nimble and innovative. HP shares jumped more than 6 percent.

Board members said they fired Fiorina, one of corporate America's highest ranking female executives, because she failed to execute a planned strategy of slashing costs and boosting revenue as quickly as directors had hoped.

Fiorina had championed the 2002 acquisition of Compaq Computer Corp. despite fierce resistance from shareholders and directors. Critics have called the merger a drag on profits.
She should have listened to Walter Hewlett.

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