HP's CEO steps down from power
HP's CEO steps down from power
Feb 10, 2005: Carleton Fiorina stepped down as chairman and chief executive officer of Hewlett-Packard this week because her opinions on strategy for HP were too different from the rest of the board.
Robert Wayman, HP's chief financial officer, will be named the chief executive officer for the time being, and Patricia Dunn, will become the non-executive chairman of the board.
The board will look for a CEO immediately too. 36-year old Wayman, will also keep his CFO responsibilities too.
Patricia Dunn 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, herself said: "While I regret the board and I have differences about how to execute HP's strategy, I respect their decision. HP is a great company and I wish all the people of HP much success in the future."
Patricia said that Fiorina came to HP to revitalise the company and take it into a new direction. She said that she is grateful for her achievements within the company since she started in 1999.
Patricia added that the losing Fiorina had nothing to do with the board looking for a change in strategy, but instead this was a move aimed to help HP accelerate its current strategy.
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