Word: fiorina
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...Hewlett-Packard is doing its best to remind us. The personalities driving HP's long-running and very public merger debate are larger than life, and the whole of Silicon Valley is riveted by the story. Which, if you haven't been paying attention, goes like this: CEO Carly Fiorina wants a $25 billion marriage with Compaq--the largest tech merger ever--to avoid being squeezed between Dell (the personal-computer giant) and IBM (a leader in tech services and server computers). But certain key shareholders--including the children of HP's garage-dwelling founders and geek-world deities Bill...
...shareholder vote, both sides have engaged in a nasty nationwide campaign of name calling. Last week Walter Hewlett, Bill Hewlett's son and the HP board member leading the fight against the Compaq merger, released a report on what the company should really be doing. Its main proposal: dump Fiorina. "She's burned a lot of bridges," Hewlett told TIME. "It's hard to see how she would survive." This came after the rest of the board, which backs Fiorina, drafted a blistering open letter to Hewlett: "You have insulted our personal commitment and fiduciary responsibility." Them's fighting words...
...public backbiting like this at every company. Then again, not every company has a legacy like HP's. Both Hewlett and Fiorina have staked their claim to what the founders dubbed "the HP way," a phrase that at first embodied the ideals of innovation and good corporate citizenship but has come to mean many things to many people over the past 60 years. Now two polar-opposite visions of the company's destiny--indeed, of how best to survive in today's rough-and-tumble tech economy--have taken shape. When the smoke clears, there will be only...
...Carly Fiorina, the frenetic CEO of Hewlett Packard, is a case study in bad leadership. In a company that famously values its employees, especially its scientists, to the point of never resorting to layoffs in bad times, Fiorina gave thousands of engineers the pink slip soon after taking the helm at HP. Then, believing that the best way to fix an ailing, giant company is to merge it with another ailing, giant company and hope for “synergy,” she announced a merger with Compaq, a move that is generating boardroom chaos even now, eight months...
...CEOs have had a hard time lately. But, ironically, that's just another sign of progress. As Julie Weeks, research director at the Washington-based Center for Women's Business Research, points out, "We've reached a level where a Jill Barad (ex of Mattel) or a Carly Fiorina (Hewlett-Packard's embattled CEO) can be in the position to have trouble." New York City research group Catalyst notes that six FORTUNE 500 companies have women CEOs, up from a steady two or three over the past decade. Still, that's just 1.2% of the total. "Is this good news...