CEO Fiorina out at HP

9 February 2005 – Palo Alto (CA): Carly Fiorina has stepped down as chairman/CEO of Hewlett-Packard (HP) with immediate effect, the company has announced, following disagreements with its board of directors.

Patricia Dunn, an HP director since 1998 who has been named non-executive chairman of the board with immediate effect, said: "Carly Fiorina came to HP to revitalise and reinvigorate the company. 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."

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

The company’s CFO Robert Wayman has been named interim CEO and appointed to the board of directors, while retaining his CFO duties.

HP, which said it plans to search for a new CEO immediately, is to announce its Q1 results on 16 February.