HP just announced a huge shakeup of its board. New blood includes Meg Whitman (formerly of eBay) and Patricia Russo, formerly of Alcatel-Lucent.
The board has been very controversial for a while, ranging from the pre-texting affair to the botched Mark Hurd situation.
Last year NYT columnist Joe Nocera slammed the board as a bunch of “cowards.”
From the announcement:
The new directors are Shumeet Banerji, chief executive officer of Booz & Company; Gary Reiner, former chief information officer of General Electric Company and a current special advisor to private equity firm General Atlantic; Patricia Russo, former chief executive officer of Alcatel-Lucent; Dominique Senequier, chief executive officer of AXA Private Equity; and Meg Whitman, former president and chief executive officer of eBay Inc. The five new directors also will stand for re-election at HP’s next Annual Meeting of Stockholders in March.
In addition, HP announced that incumbent directors Joel Hyatt, John Joyce, Robert Ryan and Lucille Salhany are not standing for re-election at the company’s Annual Meeting of Stockholders.
“The addition of these new directors will further diversify the outstanding talents and wide-ranging experience that our directors already bring to HP,” said Raymond J. Lane, non-executive chairman of the board of directors, HP. “Each is a widely respected and deeply experienced business leader, and together they will provide our board and management team with new insight and perspectives relating to HP’s business and the rapidly changing technology industry.”
Business Insider Emails & Alerts
Site highlights each day to your inbox.