Carly Fiorina ousted from HP
Wednesday, February 9, 2005New York - Carly Fiorina was ousted by the board of directors of HP yesterday, much to the delight of Wall Street. Ms Fiorina's resignation was the result of a disagreement with the board over the future of the company. Often cited as America's most powerful businesswoman, Ms Fiorina presided over the multi-billion dollar merger between Hewlett Packard and Compaq Computers in 2002.
The move comes after several months of intense speculation about her future with the company. Having promised billions in annual savings to the company from the 2002 merger, the combined company failed to keep pace with competitors such as Dell, or to deliver any significant increases in profits, particularly in the personal computer market. A recent investigation by Fortune magazine highlighted the fact that the firm's highly profitable printer business supported the lower-margin computer business.
After the announcement, HP shares surged 10% on Wall Street against a generally poor performance by the major indices.
- BBC News. "Fiorina resigns as chief of HP" — , 09 February, 2005
- Scott Reeves and Lisa DiCarlo. "The HP Way Out" — , 09 February, 2005
- Adam Lashinsky. "What's Next for HP and for Carly?" — , 09 February, 2005
- "Hewlett-Packard Ousts CEO Carly Fiorina" — , February 9, 2005
|The text of this article has been released into the public domain. In the event that this is not legally possible, this article may be used for any purpose, without any condition, unless such conditions are required by law. This applies worldwide. Copyright terms on images, however, may vary, so please check individual image pages prior to duplication.
Please note that this only applies to Wikinews content created prior to September 25, 2005. All content created after that date is released under a Creative Commons license which is mentioned at the bottom of each article. This is currently the Creative Commons Attribution 2.5 License.