HP Executive Will Retire -- Wayman Guided Computer Maker Through '05 Turmoil
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By Jordan Robertson Associated Press  SAN FRANCISCO - Computer and printer maker Hewlett-Packard Co. said Monday that Bob Wayman, the company's longtime chief financial officer who briefly served as interim CEO, plans to retire at the end of the year.
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(InfoWorld) - Despite the turnaround Mark Hurd has engineered at Hewlett-Packard, the president, chairman, andÂ CEO of the technology giant remains unsatisfied. Hurd said at a Morgan Stanley Technology Conference on Monday in San Francisco that the company still has to reduce its cost structure in order to be more profitable and grow. By many measures, HP is successful. It edged past rival IBMÂ in 2006 revenue ($91.7 billion to IBM's $91.42 billion), improved its net income by 158 percent over 2005 to $6.2 billion, and is the industry leader in personal computer and blade server sales. "But on an absolute basis, we're not doing well," Hurd said. Although HP has been on a two-year campaign of cost reduction, including employee layoffs, those savings are still not completely reflected in HP's profit and loss statement, he said. "I don't think that we've gotten very good traction with the investment base understanding that these are efforts that require time," Hurd said. "It will take us all of the next two years to be able to take advantage of that." In an interview before a room full of Morgan Stanley investors, Hurd said the total available worldwide market for the computers, servers, printers, and information technology services HP offers is $1.2 trillion, but that HP still doesn't cover that market effectively. He said the company needs to add to its sales force and develop more partnerships with other companies to better reach customers. Hurd acknowledged, as he did in the company's earnings conference call Feb. 20, that HP's storage business was weak. It grew only 6 percent in HP's fiscal first quarter, which he attributed to the fact that much of its product line is tape storage, a declining business. However, sales of its EVA line of disk storage products grew 18 percent in the quarter. As for server sales, while they grew 10 percent overall, sales of blade servers jumped 45 percent in the quarter, and the Integrity line of high-end servers grew by 75 percent. To further control costs, HP last month offered employees an early retirement opportunity and said it would change from a pension plan to a 401(k) plan, although employees currently in a pension plan will still receive their pensions. While that is expected to trim payroll costs, Hurd said other costs, such as services delivery, real estate, and procurement, still have to be tightened. Hurd was one of scores of technology company executives speaking at the technology conference that runs through Wednesday.
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(InfoWorld) - In its quest to re-energize its storage business, Hewlett-Packard has recruited the former president and CEO of storage rival Hitachi Data Systems (HDS). Dave Roberson resigned from HDS Friday and will join HP on Wednesday as the company's new senior vice president and general manager in charge of its HP StorageWorks enterprise storage business. He will take over from Bob Schultz who has been juggling two jobs since January when he was appointed senior vice president and general manager of a new HP business unit, its enterprise server and storage software organization. As of Friday, Chief Operating Officer Minoru Kosuge has been promoted to HDS CEO and Jack Domme, executive vice president of global solutions strategy and development, has become COO, according to a company spokeswoman. "While we will miss Dave, we are very pleased to see Dave in his new role at HP," the spokeswoman wrote in an e-mail. "HP and Hitachi have been long-standing partners for many years, collaborating in areas ranging from personal computers to storage solutions. As Hitachi and HP are always looking for ways to enhance and expand the current strategic business relationship, Dave's presence at HP will most certainly enable us to further build and strengthen an already strong partnership and take it to new heights." HP has an OEM (original equipment manufacturer) deal in place with the parent company of HDS, Hitachi Ltd., whereby HP rebadges Hitachi's high-end TagmaStore storage equipment. At the same time, HP and HDS are competitors in the storage market. Roberson had been at HDS for 26 years and became president and CEO of the business in April 2006. Among his achievements while at the vendor were helping to build up HDS's worldwide channel and developing key business partnerships. HDS has reseller agreements for Hitachi storage hardware with a number of vendors, notably Sun Microsystems Inc. "It's too bad for HDS; they've lost a good resource," said Greg Schulz, senior analyst and founder of StorageIO Group. "It's good news for HP." He sees Roberson as a positive addition to HP, someone who's a businessman, not a technologist or a person focused on marketing. "It'll be interesting to see if he can get the business back on track," he added. What HP needs is to get the storage hardware, software and services elements of its business "all headed in a common direction," Schulz said. HP's recruitment of Roberson is similar to EMC Corp.'s move during 2002 and 2003 when it hired away a trio of HP's top storage talent in the persons of Mark Lewis, Howard Elias and Mark Sorenson, Schulz said. HP is partway through a massive restructuring of its operations spearheaded by company Chairman and Chief Executive Officer Mark Hurd who joined the vendor in 2005. The intention is to end up with a leaner, meaner, more focused HP that's better able to compete in the market. Those efforts have already paid off in stronger sales of the vendor's servers, but HP's storage business isn't growing as fast as Hurd would like. In February, Hurd said publicly that HP needed to do a better job in broadening its storage selling efforts and should take on more storage sales specialists. In each of the last few fiscal quarters, HP's storage business has only grown in the low single digits. HP's primary storage competitors include EMC Corp. and IBM Corp. Some key areas HP needs to work on in its storage operations are its NAS (network attached storage) products, its storage management software and beefing up its backup and recovery offerings, according to Mike Karp, senior analyst at Enterprise Management Associates.
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By Connie Guglielmo  Hewlett-Packard Co. Chairwoman Patricia Dunn agreed to resign in January in an effort to defuse a widening scandal  surrounding the company's use of private  investigators to access directors' phone records.
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By Jordan Robertson Associated Press  SAN JOSE, Calif. -- Hewlett-Packard Chairwoman Patricia Dunn will step down in January and be succeeded by CEO Mark Hurd amid a widening scandal involving the computer and printer company's possibly illegal probe into media leaks.
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HP (NYSE:HPQ)(Nasdaq:HPQ) today announced that Patricia Dunn, chairman of the board and director, has resigned, effective immediately.     Statement from the HP board of directors:  "Pattie Dunn has been a valuable director of HP for many years.
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After unveiling cutting-edge technology for choking off the spread of viruses in March, Hewlett-Packard Co. (HP) is quietly shelving the project, citing conflicts with Microsoft Corp.'s Windows operating system, a company executive said.
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Hewlett-Packard's  board has  ended an advisory relationship with Larry Sonsini, the powerful  Silicon Valley lawyer, the New York Times said on its Web site  on Thursday, citing a person with close connections to the  board.
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By Ville Heiskanen  Hewlett-Packard, the world's biggest maker of personal computers, said Monday that it had promoted its treasurer, Cathie Lesjak, to chief financial officer. She will succeed Bob Wayman, who will step down at the end of the year.  Lesjak has been treasurer since 2003.
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Hewlett-Packard Co. (HP) is getting out of the chip-making business. The Palo Alto, California, company on Thursday announced that it reached an agreement with Intel Corp.
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Turns out Lampman, Wayman goes away CEO swaps, stagnant shares and scandal behind it, HP appears to have reached retirement age for some of its veterans. Last week, HP Labs director Dick Lampman announced that he would depart in 2007, and this week CFO Bob Wayman said that he'll vanish at year end.â¦
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TechWeb - The No. 1 PC maker is in the midst of a major shake up that started when its Chief Executive Kevin Rollins quit in January.
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Company is considering a gradual exit from processor sales.
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By Damon Darlin  Hewlett-Packard's board has ended a crucial advisory relationship with Larry Sonsini, the powerful Silicon Valley lawyer, according to a person with close connections to the board.
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Computer and printer maker Hewlett-Packard Co. said Monday that Bob Wayman, the company's longtime chief financial officer who briefly served as interim CEO, plans to retire at the end of the year.
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Printer and PC maker Hewlett-Packard Co. (HPQ.N: Quote, Profile, Research) will stop offering desktop workstations based on Intel Corp.
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(InfoWorld) - Bob Wayman is retiring as executive vice president and chief financial officer (CFO) of Hewlett-Packard Co. (HP), capping a 37-year tenure at the company. Wayman, 61, will step down at the end of the year to be replaced by Cathie Lesjak, 47, currently HP's treasurer and senior vice president. Wayman began his HP career in 1969 as an accountant and worked his way through a number of finance positions until he was named CFO in 1984. He helped guide HP through its controversial acquisition of Compaq Computer Corp. in 2002 and served as interim chief executive officer (CEO) after the board fired CEO Carly Fiorina in February 2005. He served until Mark Hurd was hired as Fiorina's replacement in April of last year. Wayman served in HP's board from 1993 to 2002 and again since February 2005. He will remain on the board until the shareholders meeting in 2007 but will not stand for re-election. "He has contributed greatly to HP's success and I am particularly grateful for the counsel and support he has provided me," said Hurd, in a prepared statement. Lesjak has been with HP for 20 years and has been treasurer since 2003. As CFO she will be responsible for the company's financial operations including all business unit and corporate controllership, treasury and tax functions. Her successor as treasurer will be named at a later date.