Abstract

This is the fourth of a four-case series. On 9 February 2005, the board of Hewlett-Packard (HP) announces its decision to fire Chief Executive Officer (CEO) Carly Fiorina after the controversial acquisition of Compaq failed to produce the benefits expected. Robert Wayman, Chief Financial Officer of HP, is appointed interim CEO and is also nominated to the company's board of directors. The long battle with important shareholders like William Hewlett and David Packard and their family foundations has consumed a significant portion of Fiorina's time. Distracted by the acquisition, HP seems to have lost its way. The printing business has been HP's mainstay even through some tough times. But many analysts and investors wonder if it can withstand the increasing threat from Dell. As 2005 gets underway, analysts wonder what HP has to do to overcome Fiorina's legacy and find a suitable leader to take the company forward and re-invent itself.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

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Keywords

Hewlett-Packard, HP, Compaq, Carly Fiorina, Acquisition, Takeover, Integration problems, Family, Corporate strategy, Restructuring