HP Replaces 4 Board Members, Investigating Mark Hurd
Today Hewlett Packard announced it is replacing 4 board members and adding an additional director to the board. Joel Hyatt, John Joyce, Robert Ryan and Lucille Salhany departure, and there to replace them are Shumeet Banerji, Gary Reiner Patricia Russo, Dominique Senequier and Meg Whitman. All 5 new directors will stand for re-election at HP’s next annual meeting which will be held in March.
“In are newcomers Shumeet Banerji, chief executive officer of Booz & Company; Gary Reiner, former CIO at GE; Patricia Russo, former CEO of Alcatel-Lucent; Dominique Senequier, CEO of AXA Private Equity; and Meg Whitman, former president and CEO of eBay Inc.”
The timing of HP’s board of director’s makeover probably has a very connection to the re-addressed Mark Hurd scandal, which siliconANGLE covered extensively. HP is looking to investigate the circumstances of former CEO Mark Hurd’s departure including his over-sized severance package. The investigation will be conducted by HP board members including CEO Leo Apotheker and outside lawyers, and will cover Hurd’s departure as well as his $12.2M cash payout and selling of $30M worth of stocks he received.
“Shareholders are suing HP on claims that Hurd’s severance package constituted “corporate waste.”
SiliconANGLE was there to give the angle on the Mark Hurd scandal. We covered the SEC’s investigation into his resignation, his fight against the public release of an 8-page letter which allegedly accuses him of sexual harassment, and a following request to allow him to intervene in a shareholder’s lawsuit and add his name to Hewlett-Packard’s books and records. This would allow him to fight against the release of the letter sent him by Gloria Allred.
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