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February 09, 2005
Investors cheer HP resignation.
Hewlett-Packard chairman and chief executive, Carly Fiorina, today resigned.
In response, investors raised the value of the company by over 10% at one point.
Although she had been established with the company for six years, she had personally pushed through a merger with Compaq in 2002, which had been unpopular with both board staff and investors.
With the ever decreasing profits from lower margins on PC hardware repeatedly disappointing investors, Carly Fiorina was variously criticised for pushing so hard on a merger that has failed to deliver to investors.
One of America's most powerful business women, she cited a dispute with the company's board over future strategy as her reason for leaving.
Posted by at February 9, 2005 10:52 PM
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