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India-born among front-runners for HP top job
HP's printer division chief Vyomesh Joshi is among the front-runners to head the $75 billion corporation. Chief financial officer Robert Wayman is serving as interim CEO until a successor is named.
Hewlett-Packard Corp printer division chief India-born Vyomesh Joshi is among the front-runners to head the $75 billion corporation.
Chief financial officer Robert Wayman is serving as interim CEO until a successor is named.
On Wednesday, directors ousted CEO Carly Fiorina as she didn't execute the board's strategy quickly enough.
Directors said Fiorina, whose salary and bonus for 2003 totalled $3.5 million, failed to evenly boost profits across all divisions, ranging from printers and computer servers to technology consulting contracts with Fortune 500 companies.
Fiorina was lured to HP from Lucent Technologies Inc, where her background was in sales, and put in charge of a company dominated by engineers since its founding in a Palo Alto garage. She quickly moved to reorganize its structure and remove bureaucracy, then launched ad campaigns focusing on HP's innovation.
"While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," said Fiorina, 50, who is expected to collect a severance package worth $21.1 million.
HP directors appointed Wayman as interim chief executive. They also named director Patricia C Dunn non-executive chairman and said they would immediately begin searching for a replacement.
