Carly Fiorina has stepped down as chairman/CEO of Hewlett-Packard (HP) with immediate effect, the company has announced, with the former chief citing differences with the board over the company’s future execution.
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, who has walked away with a severance package worth $21.4 million, said: "While I regret the board and I have differences about how to execute HP’s strategy, I respect its decision.
"HP is a great company and I wish all the people of HP much success in the future," she added.
The company’s experienced CFO Robert Wayman has been named interim CEO and was appointed to the board of directors, while retaining his CFO duties. (see ‘monkey business’, page 23)
Palo Alto (CA)
