Word: hp
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Dates: during 2000-2009
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...business, but she didn't see herself that way. "I don't think of myself, nor do I appreciate being characterized, as a woman CEO," she told TIME in 2002. But she was one of just eight female CEOs of a FORTUNE 500 company, and so her performance at HP drew keen attention. As it turns out, Fiorina took the same risks as her male counterparts, made the same mistakes--and met the same fate. "This is not about gender. It's really about business," says Deborah Soon of Catalyst, a nonprofit group promoting women in business. She points...
...consummate celebrity CEO--right up until her final moment. Just a few weeks ago, the Hewlett-Packard board rapped her on the wrist for the company's dismal performance and ordered her to give some control of HP's four key divisions to line executives. Outwardly, her ever-confident manner gave no hint of the humiliating demotion, even after the reorganization leaked to the press. But charisma and confidence can go only so far. On Feb. 6, board members held an emergency meeting at an O'Hare Airport hotel. The next day they asked her to step down...
...board of directors at Hewlett-Packard had admired many things about their star CEO. Asked to bring change to the doddering Silicon Valley giant, she pursued the task fearlessly, her efforts culminating in a controversial merger with Compaq. Asked to inject pizazz into HP's pedestrian marketing, she overhauled it right down to the corporate logo. Asked to create a strategic vision for a company that had none, she came up with dazzling insights into "transformational trends" and a hyperdigital future in which HP would serve consumers and corporations at every stage. But the board ultimately concluded that Fiorina...
...Fiorina incur her board's ire? In part, it was simple hubris. HP's directors had been voicing unhappiness with her performance for months, particularly after some dismal earnings numbers were posted last summer. Increasingly disillusioned with her inability to deliver the profits she promised, the board was stung by her refusal to make changes or relinquish operating responsibility in HP's floundering computer business. "She played a brinkmanship game and didn't realize the other side wouldn't budge," says Rob Enderle, a tech analyst in San Jose, Calif. "It's a game she's used to playing...
...resignation came a week before HP was due to report earnings--a report that the company acknowledges will meet Wall Street's estimates. But the guillotine blade began its descent in December, when IBM decided to sell its money-losing personal-computer business to Lenovo, a Chinese company. IBM had concluded that a PC was a commodity, little more than a toaster that also does long division, and its decision to get out of the business spotlighted Fiorina's opposite bet. Under her command, HP in 2002 spent $19 billion buying Compaq, largely to expand its position...