Hewlett-Packard Company (NYSE:HPQ) has announced a major a major leadership team revamp as Meg Whitman has assumed the the role of Chairwoman of the Board of Directors. Additionally, a new Independent Director as well as a new member of the company’s Board of Directors have been named.
Meg Whitman, current President and CEO of Hewlett-Packard Company (NYSE:HPQ), replaced Leo Apotheker as CEO of the company in 2011. Since her appointment as CEO, the company’s stock price increased by more than 50%. Hewlett-Packard had to name the successor of Ralph Whitworth, interim Board of Directors chairman, as he is departing from the role.
In a statement, Hewlett-Packard Company (NYSE:HPQ) revealed that Whitworth resigned as Interim Chairman of the company’s Board of Directors in order to focus on his health. Whitworth assumed the position in April 2013. Before assuming the post, he worked in his own investment firm, Relational investors. He was an active and most skilled investor who often bought stakes in companies and pushed for changes. HP also said that Whitworth’s successor will be named in the next board meeting.
Dominic Chu reported in CNBC regarding the changes in HP’s Board.
“Hewlett-Packard [is] saying in a statement that Meg Whitman, the current CEO and President, will assume the title of Chairman of the Board at HP,” Chu reported.
Chu said that HP had also announced Patricia Russo as Lead Independent Director of the company. Russo is a former CEO of Alcatel Lucent SA (NYSE:ALU).
Chu added that Hewlett-Packard Company (NYSE:HPQ) has added a 12th board member in the person of Aluminum Giants Alcoa Inc (NYSE:AA) CEO Klaus Kleinfeld. Chu said that investors hope that key changes made to the company will boost their performance and impact the company’s growth in positive way.
Hewlett-Packard Company (NYSE:HPQ) caters to all category of consumers starting from individual consumers to large enterprises. They also have customers in government, health and education sectors. They offer products, technologies, software solutions and services to their customers.
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