Hewlett-Packard Co. Chairman and Chief Executive Carly Fiorina, after five and a half tumultuous years at the giant printer and computer maker, has been ousted by its board of directors.
Board members say they asked for the resignation of Ms. Fiorina, architect of a controversial $19 billion purchase of Compaq Computer Corp. that has failed to produce the benefits expected. Her resignation was effective immediately and rekindled analysts' discussions about breaking up the company.
Ms. Fiorina's departure follows recent discussions with directors over the proper operating structure for H-P. As reported by the Wall Street Journal in January, the board had discussed a management reorganization that would distribute some key day-to-day responsibilities of Ms. Fiorina's to three other senior executives, a plan that Ms. Fiorina opposed, according to people familiar with the matter. H-P has called reports of the discussions "speculation."
Source: WSJ
PS: She was named one of the most powerful women in business by the Forbes magazine!
Board members say they asked for the resignation of Ms. Fiorina, architect of a controversial $19 billion purchase of Compaq Computer Corp. that has failed to produce the benefits expected. Her resignation was effective immediately and rekindled analysts' discussions about breaking up the company.
Ms. Fiorina's departure follows recent discussions with directors over the proper operating structure for H-P. As reported by the Wall Street Journal in January, the board had discussed a management reorganization that would distribute some key day-to-day responsibilities of Ms. Fiorina's to three other senior executives, a plan that Ms. Fiorina opposed, according to people familiar with the matter. H-P has called reports of the discussions "speculation."
Source: WSJ
PS: She was named one of the most powerful women in business by the Forbes magazine!
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