HP CEO Carly Fiorina to Step Down 839
ewwhite was the first of a tidal wave of readers to submit links telling us that HP Chairwoman and Chief Executive Officer Carly Fiorina will step down, effective immediately.
Chief Financial Officer Robert Wayman will be interim CEO, Hewlett-Packard said in a Business Wire statement today. Patricia Dunn will be chairwoman. Not much else in the story.
NPR dancing a jig? (Score:4, Interesting)
Is there no love lost between NPR and Fiorina or is it just that NPR is happy anytime a "big wig" gets the boot?
Investors (Score:5, Interesting)
1) Less focus on the printing division so they could make "me too" Wintel boxes and purchasing Compaq for an unbelievable amount of cash.
2) Canceling then reinstating the HP calculator line.
3) Getting out of and then back into the storage business.
4) Failing to capitalize on technologies invented at HP.
5) Being way too late to capitalize on the imaging expansion. Although the current imaging campaign (The Kinks Picturebook) is a well run ad campaign focusing on the consumer, they are still missing the Pro level stuff.
If a company is going through significant expansion, one could excuse a series of screw-ups, but HP has not significantly expanded. Rather they have given marketshare to companies like Dell, Epson, Apple and others to the tune of about $10 Billion.
My investment money went from HP to Apple. Fiorina was brought on to HP to bring the company into the Internet era, but seemed to miss that original goal entirely. Companies like Apple got it.
Granted, running a company the size of HP is not easy, but Fiorina's hubris and arrogance have proven dangerous. Unfortunately, this pathological perspective is a model that American corporate (and political) figures seem to be embracing to their shareholders (and citizens) detriment.
That's too bad (Score:1, Interesting)
Ding Dong The Witch is Dead (Score:2, Interesting)
Her strategy...no kidding:
1) Sell ink to customers
2) Buy Compaq... and then dump it
3) Offshore everthing
4) Give herself a big bonus
I'm being a little bit flip, but honestly,*THAT WAS HER FREAKING STRATEGY*
I heard her speak at a Gartner Symposium, and while she is/was bright enough, it was clear she (a) had no sense of humor (b) did not tolerate disent.
Its the best news I've heard this week. Really.
Booya? (Score:3, Interesting)
Who will replace her? Fiorina may have turned HP into Compaq, but they are still profitable, and under Fiorina's reign would be for some time. If she's been ousted, I somehow doubt she would be replaced by a innovative leader who would return the spirit of creation to the company. I fear it's more like "If we don't bother making even affordable shitty products we can cut this pie a little larger, and squeeze a little more blood from this stone".
Re:Ding dong, the witch is gone! (Score:1, Interesting)
Re:Investors (Score:4, Interesting)
Re:more info (Score:5, Interesting)
HP website already updated (Score:5, Interesting)
But her page has gone already :-)
But google cache has it: http://64.233.167.104/search?q=cache:PX8f_tPqKOcJ: www.hp.com/hpinfo/execteam/bios/fiorina.html+fiori na&hl=en [64.233.167.104]
(I am sure my employer could not co-ordinate a website update with a press release this fast :-)
Carly was one ot the things that was wrong. (Score:5, Interesting)
Ms. Fiorina has presided over such low points as dumping a profitable calculator division (without even spinning it off or doing an EBO!), and a recent corporate general meeting where the proxy-voting process was blatantly abused and manipulated to ensure the board got their way regardless of what the stockholders wanted.
To say nothing of the shenanigans with trying to suppress aftermarket inkjet cartridge suppliers/refillers. Hewlett and Packard would never have condoned such slimy means of boosting profits; they preferred to make money by adding value, and believed in interoperability and good corporate citizenship (a quaint concept, I know, but I'm an old fart...)
I shed no tears (and gave a few cheers) at Ms. Fiorina's daparture; I just wish I had some confidence her successor will be an improvement.
Re:more info (Score:3, Interesting)
Re:Investors (Score:5, Interesting)
When HP decided to let their calculator business wither, everybody was stunned. We wanted to see the calculators continue to expand with new methodologies for connectivity (USB, 802.11, Bluetooth etc....), storage (CF), etc....etc....etc.... and could have easily become a growth market playing off the early success of the PDA market. Who knows? Perhaps an HP calculator/PDA would have helped prop up the PDA market to make them more useful? Embracing more open standards for communication and storage could have helped. Also, the understanding that "virtualizing" the calculator functions into an embedded OS that would allow other expansion options and ease of programmability with modern graphics (OpenGL) would have been great roads to take.
Re:more info (Score:5, Interesting)
And I'm sorry, what does a person with a BA in Medievial history have to do with being the CEO of a tech company?
Re:Another marketing genius bites the dust (Score:4, Interesting)
Well, Apple has both, in Steve Jobs. And it's hard to separate the marketing from the innovation completely.
Re:more info (Score:5, Interesting)
Finally after surviving round after round of layoffs and being told again and again that I was next...I began to plan my future around my severance package. I was a walking zombie by that point. Everyone was. I couldn't wait to leave. It was then that evil management told me I'd be retained and my performence expectations raised three-fold.
I quit the next day.
Carley wasn't directly responsible for firing me or not; but she was directly responsible for running a campaign that sucked the life out of every free-thinking individual with a pulse in the organization.
Now that she's gorged herself on the spirit of thousands, no doubt she'll float down to another company via her golden parachute and repeat the process there.
Good riddance. Colleagues still at HP report that there is open celebration in the labs and cube-farms.
Good riddance to bad rubbish. (Score:5, Interesting)
Now, HP, here is what you do next:
Successful execution of the above will put you back on the map and in the datacenter. When you've done it, adopt the slogan "HP - when you want the very best." Don't adopt the slogan before you can back it up.
Re:Ding dong, the witch is gone! (Score:5, Interesting)
The problem was HP was a bit too big and covered too much areas, and had too many competitors. They couldn't sell spectrum analyzers to places like Dell, IBM, Compaq, because they had a PC line. And who buys from the competitors.
They also couldn't sell computers to places like Techtronics, Rhode and Swartz, and other scientific instrument places. Of course I mangled all those names with my spelling.
As a customer of HP, I never bought their computers in the first place. They were always overpriced. But I bought heavily on the Spectrum Analyzers, Sig Gens, etc. The worst thing for me in the spin off was the name. I still call the equipment I get from Agilent as HP. Its just easier to say, and old habbits die hard.
I don't think HP will be able to reaquire Agilent. They don't have the cash on hand. The stock holders probably won't go for it either. And the feeling I get from the Sales Reps I deal with it seems that Agilent looks at the renaments of HP with some scorn, and that's probably throughout all the company. And Agilent still makes some damn good equipment. If HP keeps going downhill despite the CEO leaving, I could see Agilent aquiring HP just to get the name back.
Re:Ding dong, the witch is gone! (Score:3, Interesting)
I think it is too late for that. They are almost in the position where they will have to be broken up. It's going to take something on the level of IBM hiring Lou Gerstner to bring H-P back to where they used to be.
Re:more info (Score:5, Interesting)
Yet here we see that, as you say, Ms. Fiorina is worth negative $7 billion. That's quite a loss for the company while she was CEO. Rather than generating money, she was holding them back, apparently. The question that is rarely asked is: how much would this company have grown, how much would the market cap have increased, if we had just left a monkey at the helm. If the answer is a billion or three, then maybe the CEO doesn't deserve a generous remuneration package after all. Of course guessing how a company would have performed with a monkey, or a random number generator at the helm is, well... not possible. Which is what the CEO club reply on.
Given the bonuses for good performance, I wonder if HP is going to bill Ms. Fiorina for the apparently poor performance under her leadership?
Jedidiah.
Re:more info (Score:5, Interesting)
Unpopular management vs. Bad capitalism (Score:3, Interesting)
What differentiates the situations, though, is that Fiorina rammed home a merger that was extremely unpopular (although I believed wise) in addition to overseeing a number of changes to the company that many believed permanently damaged HP's innovation-oriented corporate culture.
In short, she was an "unpopular manager".
Ebbers and Lay were "bad capitalists"; they pursued aggressive and ultimately illegal business activities. Unfortunately, the antipathy towards them makes many other capitalists extremely uncomfortable, as it hits close to home (many businesses pursue an aggressive business and legal strategy, especially tax-wise), and often borrows from the rhetoric of class warfare.
This leads to a certain dampening of the antipathy towards these men, as it invokes a circle-the-wagons reaction. Carly's strategy was never particularly popular, either among HP fans or among investors.
In addition (Score:4, Interesting)
Take a very careful look at enterprise support. VMS and TruUnix customers, who usually run mission critical, no-excuse for anything systems won't take it kindly that you are trying to save on support on those systems. In addition appologise to all VMS engineers that you fired or are in the process of firingand try to retain them, or even get them back.
You fucked up very big time in repsect to enterprise systems. You might have a slim chance to still get it right, but there's not very much time.
Sincerely
An ex-DECcie under Olson
Re:Ding dong, the witch is gone! (Score:3, Interesting)
Re:more info (Score:3, Interesting)
Re:That's too bad (Score:3, Interesting)
Just goes to prove that anyone can be an asshole.
Did we slashdot Carly? (Score:3, Interesting)
Now I don't think too much credit can be held by one action, but do you think this might have been another round of bad PR she managed to generate for the company, and they finally got pissed at her? I know I sent in a strongly worded complaint about this move to her feedback page.
If it did then this is good, it shows that when there are anough pissed off geeks we can press for changes.....
Re:Good riddance to bad rubbish. (Score:3, Interesting)
You don't understand. We are tired of HP making architecture decisions for us. HP should let the market itself decide. Maintaining both Itanium and Opteron is more reassuring than another jump.
You don't understand. CDE already runs on OpenVMS. X-Windows for VMS needs an update, and GNOME/KDE would be both market splash and reassurance.
Fine. Keep the power supply connector.
Re:Ding dong, the witch is gone! (Score:3, Interesting)
Killing PA-RISC AND Alpha was a bad idea. PA-RISC _or_ Alpha sure, but not both. Itanium was the planned migration plan for PA-RISC, but the Alpha was a superior architecture and continuing development on it would have been a better plan than trying to force Compaq's old customers to move the an inferior OS on an inferior chip.
yes we are, very much so (Score:1, Interesting)
news flash carly - you don't perform to ours either.
bye bye.
Re:Good riddance to bad rubbish. (Score:3, Interesting)
My Carly story (Score:2, Interesting)
Re:Think Breakup First... (Score:3, Interesting)
I don't print anymore.
I use blank paper to write on, then edit it, then move the stuff to the wiki.
Images? To the wiki.
Screenshots? To the wiki.
Documentation? to the wiki.
In the wiki can search it, link it, audit it, and annotate it, and that from every machine in the company.
And yes I work for a fortune 500.
Using mediawiki (the software that powers wikipedia)
Things are shifting in the business world where toner goes. It's not about the cost of toner, it's about the limited use of paper.
Re:more info (Score:3, Interesting)
Re:Ding dong, the witch is gone! (Score:3, Interesting)
Rather than HP getting back the scientific instruments (Agilent) and calculators, maybe Agilent should buy the calculator division (whatever's left of it) from HP? Then we'd have the old HP back, in everything but name. A few years later, when Dell and Carly's legacy has driven HP into bankruptcy, Agilent can buy the HP name and we have the whole shooting match together again.
The printers and computers were a bad idea from the start. A low-volume, high-ticket, high-margin, high-tech business like a maker of scientific instruments can't sell low-cost consumer crap to Walmart: the business models are just too different to have under the same management.
Re:Not much to say, but .. (Score:2, Interesting)
Re:Not much to say, but .. (Score:3, Interesting)
Re:more info (Score:3, Interesting)
I suppose that indicates modern corporate culture is primarily Feudal in nature. Hmmm....
Re:more info (Score:2, Interesting)
Disclaimer: I was with HP for 6 years. The Lew Platt years were amazing for a new college grad. The Carly era sucked the life out of a supportive, educational, opportunity laden company. After coming out of my bout of unemployment, I'm actually glad to have been laid off. I'm in a better job and I'm actually happy. Most of the folks I know that are still there are miserable. Hopefully things can start to turn around.
Re:more info (Score:3, Interesting)