Well here it is, right on time just before noon as I predicted.....
Monday April 1, 11:50 am Eastern Time
Press Release
SOURCE: Walter B. Hewlett
Walter Hewlett Comments on Announcement of Nominations for Hewlett-Packard Board
PALO ALTO, Calif., April 1 /PRNewswire/ -- Walter B. Hewlett today issued the following statement regarding the nominations for the Board of Directors of Hewlett-Packard (NYSE: HWP - news):
I regret that the Board of Directors of Hewlett-Packard has chosen not to re-nominate me as a director of the HP Board. I have served as a director of HP for 15 years, longer than all but one of the current directors, and have been dedicated to serving the interests of all of the company's stockholders during that time.
I believe that the HP Board has done HP stockholders a disservice by excluding me due to our differing points of view. Although I disagree with my fellow directors about the merits of merging with Compaq, there can be no dispute that I have been dedicated to enhancing value for HP's stockholders.
It is unfortunate that the HP Board has seemingly missed what the company's stockholders have clearly recognized: that dissent is not disloyalty, that healthy boards need not agree on every issue and that while the management and board may run a company, the stockholders are the true owners of a company.
Stockholders have a right to make a fully informed decision when being asked to vote on something as serious as a $25 billion dollar transaction, and they are entitled to have confidence in the integrity of the process. I have been quite clear and I want to reiterate that if the merger with Compaq is ultimately closed, I will do everything I can to support the successful implementation of the merger.
SOURCE: Walter B. Hewlett |
