HP appoints new CEO to take the helm

Mar 30, 2005: Hewlett-Packard has found its new leader, Mark Hurd, to put its recent troubles behind it and take it forward into a new era, it hopes, filled with confidence and success.

At 48 years old, Hurd has been the president and chief executive officer of NCR Corporation since 2003, and he also worked at the company for 25 years previous to taking on this role.

The HP board unanimously voted for him based on his track record in leading a complex organisation, and Patricia Dunn, HP's non-executive chairman praised him for his strong executive and personal qualities.

"Our search for a new leader to return HP to sustained success has been focused and thorough. A screening team of board members, consisting of myself, Jay Keyworth and Tom Perkins, established a broad field of candidates and interviewed many individuals. We then recommended the strongest contenders to the board as finalists. Each was interviewed by the entire board, and Mark was our top choice."

Hurd takes over almost two months after it parted company with Carly Fiorina, and HP is looking to Hurd's emphasis on developing internal talent while reaching outside for new skills as one way to boost the fortunes of the company.

He said: "HP is one of the world's great companies, with a proud history of innovation, outstanding talent and enviable positions in many of its product lines and services. It's a great honour to join its leadership team and have the opportunity to build on its success."

Dunn also talked about Hurd's high level of personal integrity and his straightforward style, which she said won the respect of employees, customers and investors.

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