Thursday, February 10, 2005

HP CEO quits

on NYT


-- Cara Carleton Sneed Fiorina.

BIRTHDATE -- Sept. 6, 1954.

EDUCATION -- Bachelor's degree in medieval history and philosophy, Stanford University, 1976; master's in business administration degree, University of Maryland, 1980; master's of science degree in management, Massachusetts Institute of Technology, 1989.

EXPERIENCE -- Saleswoman, marketing posts and other executive positions, including head of North American network systems, at AT&T Corp., 1980-1996. Helped lead spinoff of equipment/research division into Lucent Technologies Inc. in 1996. President, Lucent's global service provider business, 1998-1999. Named chief executive and president of Hewlett-Packard Co. in 1999 and given the title of chairwoman in 2000. She resigned from the company Feb. 9, 2005, citing differences with the board over executing its strategy. She is a board member of Cisco Systems Inc.

"Oh, I'm sure I've made my share of (mistakes). I don't think I've made more than my fair share of them, although I think more has been made of the ones that I've made," from an October 2001 interview with The Associated Press.

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

"This is not a change related to strategy," Ms. Dunn said in a conference call with industry analysts and investors. "This is a changed based on a desire to accelerate that strategy. We think that requires hands-on execution."

Wall Street signaled its approval of Ms. Fiorina's resignation today. Hewlett's shares were trading up $1.30, or 6.5 percent, at $21.44 early this afternoon on the New York Stock Exchange.

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