News

HP Board Pushes Fiorina Out

• By Scott Bekker
• February 09, 2005

HP chairman and chief executive officer Carly Fiorina, the architect and champion of HP's controversial 2002 merger with fellow computer giant Compaq Computer, resigned Wednesday at the request of HP's Board of Directors.

"While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," Fiorina said in a statement. "HP is a great company and I wish all the people of HP much success in the future."

Patricia Dunn, the newly named non-executive chairman of the board, said Fiorina came to HP to revitalize and reinvigorate the company, which had been struggling when Fiorina became HP's first outside chief executive in 1999. "She had a strategic vision and put in place a plan that has given HP the capabilities to compete and win. We thank Carly for her significant leadership over the past six years as we look forward to accelerating execution of the company's strategy," Dunn said. Dunn has been an HP director since 1998.

The board named Robert Wayman interim chief executive officer and appointed him to the board of directors. Wayman is HP's chief financial officer. The board will begin searching for a new CEO immediately. Wayman, a 36-year HP veteran, will continue with his duties as CFO.