HOME     MENU     SEARCH     NEWSLETTER    
NEWS & INFORMATION FOR TECHNOLOGY PURCHASERS. UPDATED 7 MINUTES AGO.
You are here: Home / Business Briefing / HP Chairman Whitworth Resigns
Close the insights gap
Between you and your customers with Microsoft Dynamics CRM.
See real-time CRM work
Hewlett-Packard Interim Chairman Whitworth Resigns
Hewlett-Packard Interim Chairman Whitworth Resigns
Like this on Facebook Tweet this Link thison Linkedin Link this on Google Plus
PUBLISHED:
JULY
16
2014


Hewlett-Packard's interim chairman, Ralph Whitworth, has resigned from the company's board to concentrate on personal health issues.

Whitworth's resignation is effective on Wednesday. The technology products and services company said that its board will discuss appointing a new chairman at its next meeting.

Whitworth became HP's interim chairman in April 2013 after former chairman Ray Lane stepped down from his post. At the time that Lane stepped down, HP also announced that directors John Hammergren and G. Kennedy Thompson were leaving the board. The shake-up was spurred by disgruntled stockholders unhappy with HP's performance.

HP has been working on a turnaround of its business amid slumping PC sales in recent years, cutting expenses and focusing on more profitable areas such as software and services. Like other PC makers, the company had trouble keeping up with the likes of Apple and Samsung. Whitman has warned that the turnaround will be a long-term endeavor. The company's most recent earnings report, in February, topped Wall Street's expectations.

Whitworth, an activist shareholder, has served as an HP board member since 2011. The co-founder of Relational Investors LLC, he was named to the company's board to placate investors rattled amid management turmoil at the company following CEO Mark Hurd's ouster in 2010 amid an ethical scandal. Hurd's successor, Leo Apotheker, was ousted in September 2011 and replaced by former eBay CEO Meg Whitman, who is still at the company's helm.

"HP's shareholders can be very confident that Meg, her team and the current board will stick to the strong practices and discipline we've put in place," Whitworth said in a statement. "While I'm disappointed to step down from HP's board at such an exciting time for the company, it gives me great comfort that HP is in such talented and steady hands."

Whitworth is also taking a leave of absence from the privately held investment company he co-founded, Relational Investors. He was 58 as of a February regulatory filing, the latest available. HP could not immediately be reached Tuesday morning to confirm his age.

Shares of Palo Alto, California-based Hewlett-Packard Co. climbed 26 cents to $34.41 in morning trading on Tuesday. Its shares are up 23 percent in 2014.



© 2014 Associated Press under contract with NewsEdge. All rights reserved.
 

Tell Us What You Think
Comment:

Name:

Like Us on FacebookFollow Us on Twitter
TOP STORIES NOW
MAY INTEREST YOU
Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.
MORE IN BUSINESS BRIEFING

Product Information and Resources for Technology You Can Use To Boost Your Business

© Copyright 2014 NewsFactor Network, Inc. All rights reserved. Member of Accuserve Ad Network.