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The Demise of Carly


Previous Entry The Demise of Carly Feb. 9th, 2005 @ 08:18 am Next Entry
I suppose since I work for the company and have the icon, I have to post it.

HP board dismisses Fiorina

I have to admit... despite the things that I do/did disagree with her on, I would still follow her into the grave. She's a corporate rock star, dynamic personality... and you get the impression she's simply an incredible person. I didn't necessarily agree with the Compaq merger... and actually voted by proxy against it... but at the same time, she did manage to pull off one of the largest corporate mergers in history without any of the issues that every analyst and MBA in the world said would happen. Maybe we haven't had the astronomical cost savings that was hoped (though I'm not one to really know)... but truth be told, merging to get yourself to the top doesn't mean you're going to stay there.

Carly inherited 90% of the troubles HP faces... she didn't create them... and she's done everything she can to fix them. I think the larger problem tends to be HP's OTHER management, which are very stuck in very old-school ways of thinking. HP doesn't know how to be nimble... it doesn't know how to be revolutionary (with the exception of HP Labs, perhaps). I've felt HP has lost it's prime a long time ago, but I still have hope that it can regain it... that the good people that do work here can see the light and make changes that change. HP is NOT dead... it just hasn't been running as hard as it can.

I'm sad to see Carly go. I loved her leadership. I wish that I could have met her (as so many of my coworkers did)... and it will be interesting to see what she does next. Maybe I'll apply there instead. :P

(This is a personal opinion, and in no way reflects the opinions of Hewlett-Packard Company, it's employees, shareholders, or management)
Current Mood: sadsad
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Date:February 9th, 2005 08:13 pm (UTC)

ja, it's a shame about Carly

You know, it's not often that you meet a woman named Carleton. I mean, how cool is that? And she has done a helluva job. She was just on the cover of Newsweek, or was it Time, this week. They had an in-depth article on her and the failure of the Compaq merger to produce the projected revenues. Truth be told, I don't know of any companies in that sector that are doing well, except maybe Apple. And HP still owns the printing market. They shouldn't have fired her, Chris, you are right.
Date:February 9th, 2005 08:24 pm (UTC)
I think the problem is that she was such a strong proponent of the merger that she became symbolic of the merger itself. As a result, when the merger didn't go swimmingly (I'm not saying it went poorly, just that it has clearly not been a home run), she is the one who has to go.

My favorite merger-related news item was the famous voicemail. She was clearly willing to do anything in her power (as long as it was legal) to make that merger go through even though there was lots of resistance. When you've fought that hard for something that controversial, you unfortunately pay the price if it doesn't work out great for the shareholders (I believe that prior to the announcement that she was fired, the stock had dropped 50% since the time she became CEO?).

Anyway I wouldn't shed too many tears--she gets a $21 million severance package!
Date:February 9th, 2005 08:27 pm (UTC)
Perhaps I should have compared the stock price now to right before the merger rather than to when she took over. In that case it's about the same (zero change). Still, not a great showing.
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Date:February 9th, 2005 10:25 pm (UTC)
Date:February 10th, 2005 01:38 am (UTC)
HP stock was up 6.9% today on news of her firing.

(BTW I am not an employee of HP, I have never been an employee of HP, and I do not work for any tech company.)
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