Fiorina leaves HP

By Tracy Burrows for HP

Johannesburg, 09 Feb 2005

Hewlett-Packard chairman and chief executive Carly Fiorina has left the company after a dispute with the company`s board over future strategy.

In a statement issued yesterday afternoon, Fiorina said: "While I regret the board and I have differences about how to execute Hewlett-Packard`s strategy, I respect their decision."

"HP is a great company and I wish all the people of HP much success in the future," she added.

Robert Wayman, HP`s chief financial officer, was named CEO on an interim basis and appointed to the board of directors. Wayman, a 36-year veteran of the company, will also retain his CFO responsibilities.

Patricia C. Dunn, an HP director since 1998, has been named non-executive chairman of the board, also effective immediately.

The board will begin a search for a new CEO immediately. The company does not expect to make any additional structural changes or executive leadership changes at this time.

Fiorina has recently been under pressure as HP`s profits failed to meet market expectations. Earlier this month, she denied reports that she had been sidelined and said her relationship with the board remained excellent.

"Carly Fiorina came to HP to revitalize 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," said Dunn, on behalf of the board.