HP's Hurd vows to be held accountable for all that goes right
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Remember the future Opinion "Now we know the depth of what has transpired, I take full accountability to drive the actions to set it right," said HP's CEO Mark Hurd yesterday at the company's spy scandal press conference.â¦
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(InfoWorld) - Hewlett-Packard may be on track to be a $100 billion company this year, but CEO Mark Hurd said there's a total $1.1 trillion IT market for it to pursue. Hurd, in a keynote address Monday at the HP Technology Forum in Las Vegas, told an audience of HP customers, partners, and employees that the company needs to continue to reduce costs so it can invest in innovation more. In an emotional moment in his 30-minute address, he expressed confidence his 167,000 employees are up to the challenge. "I know of no CEO who is prouder of their company as I am about HP," Hurd said, in an arena inside the Mandalay Bay Resort & Casino convention center. HP's capital spending has remained relatively flat in recent years while its budget for IT maintenance and continuing operations has continued to rise. Hurd pledged that HP would increase its capital spending by a factor of four over what it is today, with a goal of getting HP to a point where maintenance and operations are just 30 percent of the IT budget and innovation on new technology is 70 percent. HP is in the midst of a capital project to reduce the number of data centers it operates, from 85 worldwide to just six, to improve the efficiency of its own operations. Hurd, who is also chairman and president of the technology company, said it also has a goal of reducing the amount of energy used for power and cooling by 50 percent, which he said would save enough energy to power the city of Palo Alto, California, HP's headquarters city, for a year. "Green is not just about being environmentally friendly, it's [about] a great outcome. It's also about the efficiency we gain and the money we save at the same time," Hurd said. While remaining focused on costs, HP is also hiring. Hurd said the company hired approximately 1,000 new sales people over the last 12 months, two-thirds of them in the Technology Solutions Group, which sells to businesses and large enterprises. Hurd said that all the innovation HP designs into its personal computers, servers and other products won't make a difference if the products are not well distributed. He said the company needs to hire more and better sales people and handle more accounts to better serve their customers. The Technology Forum is co-hosted by HP user groups, including Encompass. The forums help HP customers, particularly small-to-medium sized businesses get the company to listen to them, said Nina Buik, president of Encompass. "HP is going to listen to FedEx, Motorola or General Dynamics," Buik said. "But if you take that layer of SMBs who, collectively, probably do the largest spending for HP products, this is where their voice is heard."ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!
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By Damon Darlin  The Hewlett-Packard chairman and chief executive, Mark Hurd, has assured analysts and investors that he plans to continue cutting costs and said he does not foresee making major acquisitions to maintain growth.
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PALO ALTO, California  - Hewlett-Packard Co. Chief   Executive Officer Mark Hurd said he had approved an e-mail ruse   to track down boardroom leaks, admitting for the first time his   involvement in a scandal that also on Friday forced out the   company's chairman.
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Hewlett-Packard Co. HPQ.N Chief   Executive Mark Hurd will testify to a House subcommittee on the   company's leak probe, HP said on Thursday, hours after the   panel's top Democrat said he should appear at a hearing.
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Hurd has transformed HP into a growth company, but the success is being overshadowed by scandal.
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Despite the turnaround Mark Hurd has engineered at Hewlett-Packard, the president, chairman, andÂ CEO of the technology giant remains unsatisfied.
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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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Hewlett-Packard Chairman and CEO Mark Hurd and recently ousted chairman Patricia Dunn are set to express regret to a House committee Thursday over the methods used in the company's leak investigation, but they also will seek to distance themselves from tactics used, according to their prepared testimony.
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Risks still remain for Hewlett-Packard Co.  in the wake of its board leak investigation scandal even as Mark Hurd's job at the helm of the No. 2 computer maker appears secure, analysts said.
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A photo featuring Mark Hurd, HP chairman, chief executive officer and president, as he updates media today on the actions HP (NYSE:HPQ)(Nasdaq:HPQ) is taking to address issues regarding the investigation of leaks from HP's boardroom, is available on Business Wire's web site and AP PhotoExpress.
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HP exec Mark Hurd reaches out to employees as the company decides how to react to this week's boardroom pretexting scandal.
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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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If a pledge by HP's boss is a real harbinger, the beleaguered company may rebound sooner rather than later.
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(InfoWorld) - Hewlett-Packard Co. (HP) expects fiscal 2008 to be another solid financial year as the company continues to fine-tune its cost structure in an attempt to become more operationally efficient. HP Executive Vice President and Chief Financial Officer Bob Wayman, one day after announcing he will retire on Jan. 1, outlined the company's expectations for fiscal year 2008, projecting revenue between US$100.9 billion and $102.8 billion. The figures represent year-over-year growth of 4 percent to 6 percent and are in line with what analysts expected. The projections are also similar to the company's performance in fiscal 2006, when revenue of $91.7 billion represented 6 percent growth over previous-year revenue of $86.7 billion. HP already has set guidance for fiscal 2007, which began on Nov. 1, at $97 billion in revenue, or GAAP (generally accepted accounting principles) earnings per share of $2.28 to $2.33. Wayman set 2008 financial projections as part of a meeting with securities analysts in New York on Tuesday, where he and other HP executives laid out the company's goals for the next couple of years. Breaking it down by business segment, HP also expects growth in its Personal Systems Group, Imaging and Printing Group, Enterprise Storage and Servers and HP Services divisions to be between 4 percent to 6 percent in 2008. However, growth should be higher in both its Software and HP Financial Services segments, the company said. HP expects its software business, recently buoyed by its acquisition of Mercury Interactive Corp., to have 10 percent to 15 percent growth in fiscal 2007, while its financial services business will grow 6 percent to 8 percent. Speaking at Tuesday's event, HP Chief Executive Officer Mark Hurd said the company is a work in progress as it strives to achieve goals he laid out when he joined the company in late March 2005. To streamline the business, HP began a massive restructuring last year that resulted in 10 percent of its workforce being cut. Hurd implied Tuesday there would beÂ more slicing and dicing throughout HP to create a leaner business. As a result, operating margins should gradually improve over the next couple of years. In 2006 operating margins were 8 percent; in fiscal 2008 the company is projecting that will climb to between 9 percent to 9.5 percent, it said Tuesday. "We're committed to taking care of our business and our cost issues," Hurd told analysts. Â
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Hewlett-Packard Co. HPQ.N Chief   Executive Mark Hurd told lawmakers on Thursday there were no   excuses for a probe of boardroom leaks that led investigators   to deceptively obtain private telephone records.
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Like a good friend who has just gotten out of a terrible relationship, Hewlett-Packard seemed to be on the rebound and all the happier for it in recent months. After the departure of controversial CEO Carly Fiorina, the company has as of late shown newfound confidence and focus under new CEO Mark Hurd. But allâs still not well in the higher echelons of HP, as revealed in a filing the company made to the U.S. Securities and Exchange Commission.