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Technology Stocks : Hewlett-Packard (HPQ)

HPQ 26.64

+2.7%

3:59 PM EST

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To: Elroy who wrote (4198)	9/23/2011 9:54:57 AM
From: Oeconomicus	2 Recommendations of 4345

Jeffrey Sonnenfeld (Yale b-school corporate governance expert) was on CNBC this morning disagreeing with the bashing of the current board. Remember, most of the board is new, including Lane, Whitman, and five others. Skip to about 1:15 in: video.cnbc.com At the end of the segment, he and Jack Welch (who knows a thing or two about this) get into an issue I've had with HP's board for a long time - the fact that they've gone outside for every CEO since Lew Platt retired. Maybe I could see doing it once if there wasn't someone inside who was ready (which is far from certain in any of the last 4 hires), but to do it again and again has to be demoralizing for rising managers. And it says something about CEO and board leadership that they aren't actively grooming insiders for succession. My hope is that Meg, even though not described as 'interim', sees her job as being a 2-year or so CEO with a mission is to get the company back on a steady track and groom an HPer to become CEO at that time. And they need to quickly put an end to the stupid spinoff-the-PC-biz talk. Just because IBM did it, doesn't mean it's a good idea for HP. IBM had lost it's leadership position in that business long before they got out of it. HP is the global leader in the biz.

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