Carly Fiorina has stepped down as Chairman and CEO of Hewlett Packard. CEO since 1999, Fiorina is being replaced by Robert Wayman, HP's current CFO, while Patricia Dunn, was named non-executive chairman of the board, effective immediately.
According to Reuters this morning, Fiorina was "ousted" after "disagreements over strategy at the computer and printer maker."
In a statement Fiorina has said: "While I regret the board and I have differences about how to execute HP's strategy, I respect their decision. HP is a great company and I wish all the people of HP much success in the future."
Our West Coast Bureau Chief, Roger Strukhoff, wrote just last week:
"Today's HP/Compaq line is too similar and marketed nebulously. So constrained, can it ever regain the market leadership it collectively had before the merger? Does it matter if it ever does? Was Carly Fiorina's big adventure in acquiring Compaq a mistake, and more important, was the HP board's big adventure in hiring Fiorina a mistake?"
The answer today from HP's own board seems to be an unequivocal "yes."
About i-Technology News Desk SYS-CON's i-Technology News Desk trawls the world of Internet technologies for news and innovations and presents IT professionals with updates on technology advances, business trends, new products and standards.
Woody wrote: Alex1444:
Her Severance is around
$21 Million. With all
her stock options and so
forth one news source
estimated her total
compensation for the last
6 years when all is said
and done at around $25 -
$50 Million dollars
excluding the previously
mentioned severance. On
average, starting at
around $1.7 million in
the first year to a high
of $3.93 million, she
made an average each year
of very close to $3
million dollars.
On another note: It
amuses me to read
articles where the
financial gurus are
bewildered why with her
departure the stock price
has gone up. They will
never get it !!!!
hpwatch wrote: >>>I think
there are two
possibilities for HP's
future:
Don't split it up. The
sum is bigger than the
parts. HP make some of
the best products in the
marketplace. They can
become great again. Get
Lou Gerstner in part time
as a consultant to the
new CEO/Board.
vt_investor wrote: I
think there are two
possibilities for HP's
future:
1. Split the company into
two parts, along the
lines that it is already
organized: An enterprise
products company and a
consumer products
company.
or
2. Hire both a new CEO
and an new COO who will
work together to fix the
problems and work to make
HP a financially
dependable, more smoothly
operating, company.
Carly didn't want to do
either of these things.
Alex1444 wrote: Does
anyone know Carly's total
pay, for the five and a
half years she spent at
H-P (including today's
little $21 million
going-away present)?
I'm not talking about pay
& perks, such as the
Gulfstreams at her
disposal, etc. Also not
talking about the
$billions she wasted
while CEO, or the
opportunity cost of what
H-P might have been under
enlightened leadership.
But what did she get in
dollars, her "signing
bonus", salary, gifted
stock value, gifted
options value, and
"parting gift"? Just
wondering if it's in the
$100-200 million range.
Dennis wrote: Carly and
Bob Palmer, CEO that
followed Ken Olsen at
Digital Equipment
Corporation were very
much alike. Palmer was
flashy, pursued massive
layoffs to reduce costs,
pursued go to market
strategies for products
where there was no
sizeable market (ie. the
Alpha), and ignored
traditional bread and
butter markets. Yes, I
blame the boards for who
they appoint as CEO. They
should share equally in
the blame on who they
select as CEO and the
strategic direction of
the company.
Woody wrote: "Why do so
many people dislike
Carly?" you ask. Let me
give a parital list of
reason in just a few
words; layoffs,
outsourcing, poor
communication, blaming
others for your own
incompentence, always
worrying about your own
image before the company,
making business decisions
based almost solely on
ego and not sound
reasons, etc.... I am
sure there are more than
a few people who can
enlarge this list and
give specific examples.
When you rocket an
untrained, unseasoned,
inexperienced person to
the head of a company for
the sole reason of giving
the company a more flashy
image, bad things are
bound to happen and they
did in spades. Hope this
helps folks to understand
the sheer dislike that is
out there for Carly.
This is the livelihood
for many people she was
playing with and we take
it very seriously. Do...
tctopdog2002 wrote: Carly
destroyed many aspects of
HP business. Besides
that. her efforts made
many customers suffer
financially due to her
whimsical decisions. A
telling example of her
incompetance (imo) is
looking at the Verifone
Red Herring. She sold it
for $40 mill, after HP
dumped $1.3 billion on
it. She is the most
incompetant overhyped
"list" of a flop. The
board gave her so much
room to perform. She
never understood HP
strengths. She was very
good at "Acting" like a
Celebrity CEO, and way
too busy with Carly to be
HP leader. Oh....she was
good at buying corporate
jets too her first
management action. Too
bad so many veteran top
players were blamed for
her imcompetance. The lat
straw was when she fired
3 top people blaming them
for her ignorance.
coolness101_us wrote:
###girl2512 commented on
9 February 2005:
why do so many peole hate
carly? ###
Pretty simple.
Even the slightest glance
behind the pretty face
facade showed her to
unskilled and beyond her
level of competency--
before HP hired her.
There was never a chance
that she could lead HP.
It is simply amazing that
it took so long to fire
her. A man would have
gotten fired for the
stuff she got away with
on the Compaq vote. As an
interview on NPR just
said "She was great at
marketing and speaking."
She just marketed herself
more than anything.
girl2512 wrote: why do so
many peole hate carly? i
am not trying to defend
her for her strategy
blunder in buying
compaq,..i agree she made
wrong decision. anyway,
there are many mergers
turn sour, it's just part
of capitalism, company
buying other company,
some work, some don't.
i am sure carly never
anticipated the merger to
be this bad, but at least
she's done her best for
HP.
Alex1444 wrote: An ironic
part of the Carly
saga...it looks like the
biggest single day
percentage gain for HP
under her tenure, will be
today
Thus the best way for her
to add value to the
company was to remove
herself from it. Ironic,
sad, but also just. Good
riddance to the arrogant,
greedy, self-serving,
incompetent, ice queen.
William wrote: I think
there were mistakes all
around. The board, Ms.
Fiorina, and Mr.
Capellas. Oh, and Mr.
Walter Hewlett, too. But
hindsight is better that
foresight, and Ms.
Fiorina was a victim of
the times, the
marketplace, general IT
predictions, and the
cultures at HP and
Compaq. These things
didn't fit; and when they
don't fit, you must QUIT.
Woody wrote: Not likely
since lay-offs were
Carly's way of cutting
costs. And this stuff
about "Her" stepping
down, face it she was
FIRED. She's old news
now, BABY !!!!!!
Stockwatcher wrote: On a
day when Cisco Systems
weighed in with a revenue
miss and disappointing
outlook, this was at
least a chink of light in
the IT tunnel.
From Application
Virtualization to Xen, a
round-up of the
virtualization themes &
topics being discussed in
NYC June 23-24, 2008 by
the world-class speaker
faculty at the 3rd
International
Virtualization Conference
& Expo being held by
SYS-CON Events in The
Roosevelt Hotel, in
midtown
While EDI transactions
account for most
worldwide commercial
activity, XML-based
alternatives are
beginning to gain
traction. According to
Forrester Research,
stateful XML, stateless
XML, and even flat file
exchanges are all
projected to grow at a
faster rate than EDI over
the next few
Red Hat is a trusted
open source provider.
Red Hat offers enterprise
customers a long-term
plan for building
infrastructures on the
quality and innovation of
open source. Combining
open source operating
system platform, Red Hat
Enterprise Linux,
together with
applications, management
JustSystems announced
that it is contributing
intellectual property
rights for its invention
of eXtensible Business
Reporting Language (XBRL)
rendering technologies to
XBRL International, the
standards body
responsible for the
oversight of the XBRL
specification. The
invention, known a
JustSystems announced its
campaign to help
organizations adopt XBRL
(eXtensible Business
Reporting Language), the
XML-based standard for
communicating financial
and business information.
In related news,
JustSystems also
announced that it has
contributed intellectual
property rights of
SUBSCRIBE TO THE WORLD'S MOST POWERFUL NEWSLETTERS
SUBSCRIBE TO OUR RSS FEEDS & GET YOUR SYS-CON NEWS LIVE!
Click to Add our RSS Feeds to the Service of Your Choice:
About Newsfeeds / Video Feeds
.gif)
Carly Fiorina has stepped down as Chairman and CEO of Hewlett Packard. CEO since 1999, Fiorina is being replaced by Robert Wayman, HP's current CFO, while Patricia Dunn, was named non-executive chairman of the board, effective immediately.
From Application
Virtualization to Xen, a
round-up of the
virtualization themes &
topics being discussed in
NYC June 23-24, 2008 by
the world-class speaker
faculty at the 3rd
International
Virtualization Conference
& Expo being held by
SYS-CON Events in The
Roosevelt Hotel, in
midtown 
While EDI transactions
account for most
worldwide commercial
activity, XML-based
alternatives are
beginning to gain
traction. According to
Forrester Research,
stateful XML, stateless
XML, and even flat file
exchanges are all
projected to grow at a
faster rate than EDI over
the next few
Red Hat is a trusted
open source provider.
Red Hat offers enterprise
customers a long-term
plan for building
infrastructures on the
quality and innovation of
open source. Combining
open source operating
system platform, Red Hat
Enterprise Linux,
together with
applications, management
