In the Wisdom of Lao Tze He said....
A Soothing, Soft Nature Person/ Things Will Last!!
A Strong, Stubborn, tough Person/ Things Would Not Last!!
Now Let us look at what Sun Tze Said about Leadership movement:-
A Hero Know When To Advance & When To Retreat!!
A Saint or Virtue Person Know How to Size-Up The Situation!!
As Pei Ghe Yi said:
" The True or False In One Life, Is Not for Any Individual To Say about.
It is Only Oneself Knowing Oneself Better!!"
Hewlett-Packard Ousts CEO Carly Fiorina
Wed Feb 9, 2005 09:27 AM ET By Eric Auchard
SAN FRANCISCO (Reuters) - Carly Fiorina, one of the most powerful women in American business, was ousted as chairman and chief executive of Hewlett-Packard Co. (HPQ.N: Quote, Profile, Research) on Wednesday after disagreements over strategy at the computer and printer maker.
Analysts said Fiorina's departure would be good for HP, and the company's shares jumped more than 11 percent in pre-market trading.
"This is a good move for the company. I would say there will be a boost to employee moral because internally people had become frustrated, certainly within the printing division," said Shannon Cross, a Wall Street analyst with Cross Research who tracks the printing industry.
Peter Sorrentino, chief investment officer of Bartlett & Co. in Cincinnati, also expressed relief at the management change.
"This was a move that we had long hoped they would take. We thought the stock, just from the imaging business, is worth $24 a share, and you were being impaired as a shareholder because of the other businesses," he said.
Fiorina, 50, who joined HP as CEO in 1999, became the lightning rod of criticism among investors and some in the Silicon Valley establishment for pushing through a merger with rival PC maker Compaq Computer in 2002.
"While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," Fiorina said a statement. "HP is a great company and I wish all the people of HP much success in the future."
Shares of HP, a component of the Dow Jones industrial average, rose $2.30 to $22.44 in pre-market trade on the Inet electronic brokerage system.
Robert Wayman, HP's chief financial officer, was named CEO on an interim basis and appointed to the board of directors of HP. Wayman rose through the ranks at HP after joining the company in 1969.
HP said a search for a new CEO was underway.
Patricia Dunn, vice chairman of Barclays Global Investors and a member of HP's board since 1998, was named non-executive chairman of the board.
MERGER HEADACHES
Critics of the merger with Compaq, including family members of HP founders William Hewlett and David Packard, decried the merger, argued that it diluted the value of HP's crown jewel, its profitable printer and imaging business.
"The fact that everything is back on the drawing board, with respect to (spinning off) the printer business, makes the stock more attractive," SG Cowen analyst Richard Chu said.
Sorrentino said, "HP has never had a cost-effective model in terms of the PC business, they've frittered away their lead in imaging, and their move to services never really panned out even with the addition of Compaq," he said.
Cross said the Compaq deal failed to provide the results promised at the time of the merger and HP's stock has languished since then.
HP also suffered from failed execution, which meant that quarterly results were inconsistent, leading to several sharp sell-offs in the shares in recent years. (Additional reporting by Franklin Paul and Martha Graybow in New York)
Top Technology News Sponsored by Audi | Reuters.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment