HP Disney-fies its executive team
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The PC maker chooses Disney's former head marketer of its parks and hotel business to lead its marketing operations.
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Microsoft has tapped a former executive at Walt Disney to fill its CIO position, a move that shows the company continuing to fill top executive positions from outside the company.
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Wringing profits out of a PC company is a demanding task for any business executive, but Hewlett-PackardÂ  believes the executive who has generated healthy profit margins within its printer division can work the same magic on its PC group in a combined organization announced Friday.
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Hewlett-Packard Co. announced today that Patricia Dunn will be replaced as HP chairwoman in January by CEO Mark Hurd. The move follows a scandal related to leaks from the company's board of directors.
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HP (NYSE:HPQ)(Nasdaq:HPQ) today announced that Mark Hurd, HP chief executive officer and president, has been appointed to the additional role of chairman, succeeding Patricia Dunn, who is leaving the company's board, effective immediately.
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Hewlett-Packard Co.'s board of directors discussed shifting some day-to-day responsibilities from chief executive Carly Fiorina to other executives in an effort to improve the technology giant's performance, according to a published report yesterday.
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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.
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In January 1996, Walt Disney Co. executives took a field trip to the company&#39;s theme park in Orlando. In keeping with tradition, the Disney brass, including chief
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Ann Livermore, executive vice president of HP's Technology Solutions Group, discussed the company's recent earnings report and talked about its hardware plans.
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(InfoWorld) - Hewlett-Packard continues to diversify and streamline its business according to goals Chief Executive Officer Mark Hurd set when he joined the company nearly two years ago. But the IT giant still needs to cut costs to achieve operational efficiency, the company's top executive told members of the financial community on Tuesday. "We are a company that is transforming; we are not a company that has transformed," Hurd said, speaking at a meeting of securities analysts in New York. Hurd acknowledged that HP's cost of operations are still too high for the company to run at its most effective, though the company has completed aÂ 10 percent workforce reductionÂ it began last year as part of a huge restructuring effort. He said that since he took over, HP has carefully analyzed its cost structure, down to knowing its IT costs by employee, site and function. "We do understand our costs now more than we did a year ago," Hurd said. But the company still needs to reduce costs and better efficiency, which Hurd vowed HP will achieve in the next several years. Complicating this aim is HP's acquisition strategy, as the company still is working to absorb companies it purchased in 2006. The company on Tuesday unveiled how it would integrate Mercury Interactive, a software companyÂ HP acquired for $4.5 billionÂ on Nov. 7. Hurd told securities analysts not to expect more acquisitions of this size in the future from HP, a comment that would appear to put an end to rumors that the company may buy security giant Symantec. Instead, the company will make smaller acquisitions as they strategically and operationally make sense, he said. Right before Hurd spoke, HP announced that it has agreed toÂ acquire business intelligence services Knightsbridge Solutions Holdings, a 700-person company, for an undisclosed sum. Hurd made no mention of theÂ boardroom scandalÂ that hit the headlines in September, and which has former HP executives awaiting their fate in an ongoing criminal case that will decide whether they used illegal means to investigate journalists. Instead, he focused on operational efficiency and other goals on which HP continues to execute, including deriving revenue from a more diverse mix of sales and services and improving its sales and customer service. Hurd also thanked HP Executive Vice President and Chief Financial Officer Bob Wayman for his 37 years of service at the company. On Monday,Â Wayman said he would retire, effective Jan 1. Catherine Lesjak, a 20-year HP veteran who currently serves as HP's treasurer, will take over for Wayman upon his exit. From a financial and perspective, HP weathered the scandal that rocked the company this year unscathed, earning nearly three times the profits in fiscal 2006, $6.2 billion, than it did in 2005, when the company earned $2.4 billion. Hurd said HP still has more progress to make in terms of tapping its "total addressable market," which he said in 2009 will be about a trillion dollars. "After careful analysis, we've decided that is big," he deadpanned. To achieve this aim, HP continues to try to improve its sales tactics, Hurd said. He said traditionally, HP ran on the theory that "if we build great technology, customers will find it." Now, "we have this new advanced theory," he said. "If we actually try to sell the stuff, we'll actually get more revenue."
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Hewlett-Packard Chairwoman Patricia Dunn will step down in January and be succeeded by CEO Mark Hurd
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Hewlett-Packard Chairman and CEO Carly Fiorina said Tuesday that the company is finally where it wants to be in terms of its organizational model.
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By Bloomberg News. Michael D. Eisner, the chief executive of Walt Disney, kept board members abreast of the negotiations to hire the talent agent Michael S. Ovitz as the company&#39;s president
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A pair of top executives in charge of the networks division at mobile phone giant Nokia Corp.
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CQ&quot;&gt; Walt Disney Company shareholders might have done a double take when their chief executive, Michael D. Eisner, testified in court last week about the brief tenure of his friend, Michael S. Ovitz, as company president.
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(InfoWorld) - Microsoft Corp.'s Japan unit has picked a former Hewlett-Packard Japan Ltd. executive as its new chief operating officer (COO), the company said Monday. Yasuyuki Higuchi assumed his new position March 1. He was previously president of Japanese retailer Daiei Inc. and served as HP Japan's president. At Microsoft he will be in charge of the company's commercial and enterprise business. "I'm very excited," he said at a Tokyo news conference. "[Commercial] is the area I was heavily involved in at HP Japan ... so the area is one I am really familiar with." Higuchi was an employee of Compaq and came to HP when the two companies merged in 2002. Prior to Compaq he worked at Apple Inc.'s Japan unit between 1994 and 1997. As COO he will report to Darren Huston, president and CEO of Microsoft's Japan unit, Microsoft Co. Ltd. With Higuchi heading up the enterprise business, Huston will concentrate on the consumer sector, he said. "I hope to bring together our assets in a more consistent way," said Huston in an interview with IDG News Service. "We have a very strong portal on the Internet, MSN, we're launching a bunch of Live services, we've got some great products being launched in games for Windows [and] we've launched Vista in its premium version. So it's how do we bring those assets together and make more of an impact." Last week the Nihon Keizai Shimbun business newspaper reported that Higuchi is likely to take over from Huston as Microsoft's Japan president in about a year. Huston addressed the report on Monday and said that he would be here for at least the next financial year but didn't commit to being in Japan beyond that point. Â
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GEORGETOWN, Del., Oct. 26 -- Michael Ovitz said on Tuesday that Walt Disney Co. would have made a string of dazzling deals and shrewd strategic moves during his brief tenure as the company's president in the mid-1990s, if only chief executive Michael D. Eisner had not shot down his ideas.