Quantcast
Get breaking news alerts via email

Click here to manage your alerts
HP names 3 new board members amid turnaround push
First Published Jul 15 2013 10:54 am • Last Updated Jul 15 2013 10:54 am

Hewlett-Packard Co. has named three new members to its board, including former executives from McDonald’s and Microsoft, as it forges ahead with its turnaround push.

The company said Monday that it appointed former McDonald’s CEO Jim Skinner; Raymond Ozzie, former chief software architect at Microsoft Corp.; and Robert Bennett, former president and CEO of Liberty Media Corp.

Join the Discussion
Post a Comment

The appointments, which are effective immediately, boost the number of directors to 12, up from nine.

HP has been struggling amid declining PC sales, with people spending their money on smartphones and tablet computers instead. Like many other PC manufacturers, HP was slow to respond to the shift and then stumbled trying to catch up with Apple Inc. and other manufacturers, such as Samsung Electronics Co., that make devices running Google Inc.’s Android operating system.

The new appointments come three months after HP announced that Chairman Ray Lane was stepping down and two other board members were leaving in a shake-up spurred by disgruntled stockholders stung by the company’s downfall. The two who left had been the longest serving members on the board and were targeted by shareholders primarily because their roles on the board had given them oversight over HP’s acquisition strategy. Most of the company’s major deals in recent years have gone badly, saddling HP with losses of more than $17 billion since 2010.

Lane remains on the board as a regular member. Ralph Whitworth, a shareholder activist on the board, was named interim chairman in April. HP said Monday that it was still seeking a permanent chairman as well as additional directors in the coming months.

On the latest appointments, CEO Meg Whitman said in a statement that "it’s a huge benefit to be able to get advice from a board made up of such experienced business and technology leaders. For their part, Dob, Ray and Jim have just about seen it all during their careers."

Whitman has portrayed HP’s turnaround as a multi-year effort. She has been overhauling the company’s product line and pushing into more profitable niches in business software, data analysis and storage and technology consulting. HP also is in the process of eliminating nearly 30,000 jobs and shedding other expenses.

The Palo Alto, Calif., company says Skinner is joining the audit, human resources and compensation and nominating and governance committees. Ozzie will join the technology and finance and investment committees and Bennett will join the finance and investment and audit committees.

HP shares rose 9 cents to $26.28 in midday trading Monday.


story continues below
story continues below



Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Login to the Electronic Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.