UPDATED 15:09 EST / JANUARY 26 2011

HP’s New Board Members Pledge Allegance to Apotheker?

Hewlett-Packard recently announced it is replacing 4 members and adding an additional member to the board, but certain corporate governance experts are somewhat doubtful regarding some of the directors’ ability to act independently. At least one director sits on a board in Europe with current CEO Leo Apotheker, while at least 3 others were SAP customers, where Apotheker served as CEO for roughly 22 years.

“Such interconnections could inhibit new directors from disagreeing with HP management and asserting independent viewpoints, said Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware.”

HP Chairman Ray Lane commented that with the exception of 2, all the new board members knew Apotheker because of his former position as SAP’s CEO. Former board member, Dominique Senequier, runs AXA SA’s investment buyout arm AXA Private Equity, whose supervisory board includes the HP CEO.

The timing of the Hewlett-Packard board of directors makeover is further cause for questioning, lining up with the re-addressed Mark Hurd scandal and lawsuits alleging HP wasted $53 million – a sum given by Hurd in severance and related benefits. SiliconANGLE covered this topic as it unfolded, including the joining of 5 new board members and the latest news in the Hurd saga.


A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy

THANK YOU