W. Hewlett sees Fiorina exit if deal fails - WSJ
NEW YORK, Feb 11 (Reuters) - Walter Hewlett put forth three
principles to guide Hewlett-Packard Co. <HWP.N> if the plan to
buy Compaq Computer Corp. <CPQ.N> fails, and said he would
expect Chairman and Chief Executive Carly Fiorina to depart, the
Wall Street Journal reported online on Monday.
First, he suggested the company invest in and expand its
printer and imaging unit, the Journal reported. Second, he said
H-P should focus on filling in key gaps in its enterprise
offerings, such as in software and consulting services, possibly
through smaller acquisitions, the Journal said.
Lastly, he said H-P needs to restructure and de-emphasize
its personal-computer business, possibly by closing some plants,
the Journal said.
Hewlett, 15 years a H-P board member and son of co-founder
William Hewlett, said a defeat of the acquisition would likely
lead to the departure of Fiorina, but would not likely lead to
resignations from the board or from many senior executives,
according to the Journal.
When pressed on details of his alternative vision, such as
which companies H-P should buy instead of Compaq, Hewlett was
unspecific, the Journal said, but he did not rule out acquiring
companies like the consulting arm of accounting firm
PricewaterhouseCoopers.
((New York Equities Newsdesk (646) 223-6000))
REUTERS
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