After the news emerged on Wednesday that the board of directors of HP was planning to oust its chief executive, deflected criticism from Leo Apotheker and against the edge. Apotheker may have presided over a decline in operating income, excluding acquisition price and the eventual decision to sell its PC business. But he was director of HP, who took a lot of criticism.
If new reports are to be true, the criticism is justified. Apotheker will be the third CEO of HP expelled or forced to resign in less than seven years. Surprisingly, one report indicates that much of the commission had not met before hiring Apotheker. It was the back "fake" scandal in 2006, when the Board of HP, but with different members, it is said that the abuse tactics to obtain phone records of journalists. And the way he handled the departure of former executive director of the Perplexed, Mark Hurd, last year after concerns about a relationship with a woman entrepreneur also questionable. As an expert in corporate governance, said the Wall Street Journal, HP's board "seems to attract misery."
Neither seem to be very focused on preparing the inside. After three outside directors are or seem on the verge of being fired, most of the talk in the press on Wednesday that he was a board member of Meg Whitman, former CEO of eBay and unsuccessful candidate for governor, would be a candidate take over.
Given the fate of three HP hired outsiders, it is hard not to wonder why insiders do not receive more attention. Carly Fiorina, who was brought from Lucent, famous rubbed HP employees in the wrong direction with a management structure from top to bottom, and presented its passage of the Way of the company touted HP. After Fiorina was fired, was named interim CEO after a few months until his successor could be appointed. It is obviously ended up being the former NCR CEO Mark Hurd, who has won over Wall Street with its sharp cost reductions and operational excellence. But he was less popular with employees who have apparently not many of his performances and gnawed its budget cuts, which included trimming wages.
After striking out Hurd, the Board established Cathie Lesjak CFO on an interim basis. But instead of promoting an internal candidate, which surprised investors by naming Apotheker, who was ousted as CEO of SAP, a few months before. If Hurd was a stranger, Léo Apotheker has been even more of Germany and the software industry.
HP is the grandfather of Silicon Valley. Has been respected executives who have been in business for years. Culture of innovation and engineering reputation is legend. If it was an old company, three presidents from abroad in short succession would be difficult. But if a place known for its long tradition of egalitarianism development, decentralization, and generosity with employees, is likely to be traumatic.
In the world today, the shareholders expect the board to have a strong hand in planning. Many investors have pushed boards to adopt resolutions that share some details about its plans for succession to the public and as shown in the HP is a good reason. Maybe even the name of HP will be an insider, reports said Todd Bradley, head of HP's PC business, and David Donatelli, who heads the company's servers, may be candidates. If not, chances are that nobody was able to turn around the company at this time. But if so, whose fault is it?
