In yet another upheaval for the board of Hewlett-Packard, the firm said on Thursday that Raymond J. Lane, its embattled chairman, was stepping down from that submit just two weeks soon after his narrow re-election. Two other administrators departed the board fully, Quentin Hardy reports on Friday in The New York Occasions.
The move may possibly give Meg Whitman, H.P.’s chief executive, a minor a lot more respiratory place in her extended and distressing work to turn the engineering giant around. H.P. is a single of the world’s greatest technology businesses in phrases of product sales, but for many years it has been marked with economic losses, bungled acquisitions and turbulence in the executive ranks and boardroom.
Ms. dlc promo code Whitman, who took above in September 2011, has mentioned H.P. will return to modest profitability in 2014 and have sturdy progress in the many years right after.
“The force is on Meg,†mentioned Toni Sacconaghi, an analyst with Bernstein Study. But, he stated, a housecleaning of the board “bought her a calendar year.â€
Mr. Lane, who will carry on to serve on the board, will be briefly succeeded by Ralph Whitworth, an activist shareholder who joined the H.P. board in November 2011. He has been a champion of Ms. Whitman.
No successors for the departing board users â€" John H. Hammergren and G. Kennedy Thompson â€" had been right away named. The two, who scarcely survived re-election to the board at a meeting in late March, are envisioned to serve until finally May.
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