[hewlett packard] has patricia dunn for hp
Hewlett-Packard Co.'s board will file a statement with the Securities and Exchange Commission, notifying investors that the computer maker's board will refuse to nominate one director for re-election because he leaked confidential information to the media.
HP board member George Keyworth, a physicist who served as science adviser to President Reagan from 1981 to 1986, will end his service on the HP board no later than March 2007, HP spokesman Ryan Donovan said.
'We believe that persons at all levels within the company _ directors, officers and employees _ must be held accountable and have the highest personal integrity,' Donovan said Tuesday. 'We've changed the culture of this company to one that's driven by accountability and meeting the needs of the customer. These changes have been painful, but we believe they're the right thing to do.'
Keyworth's departure comes after a January article on CNET Inc.'s News.com, which included a quotation from an anonymous HP source who described a gathering of HP directors at a posh spa in Indian Wells. The source's comment wasn't inflammatory and didn't contain information about future products or restructuring plans. 'By the time the lectures were done at 10 p.m., we were pooped and went to bed,' the source told News.com.
Nonetheless, the statement angered HP Chairwoman Patricia Dunn, 52, who has been on the board for eight years.
The non-executive chairwoman of the 11th largest company on the Fortune 500 oversaw the ouster of former HP CEO Carly Fiorina in February 2005 and the hiring of Mark Hurd as her successor _ both high-profile moves that also were leaked to the media. Dunn, CEO of Barclays Global Investors from 1995 to 2002, has been on the HP board since 1998 and was elected chairwoman in February 2005.
Dunn oversaw an extensive investigation of leaks and, at a board meeting May 18, identified Keyworth as the source in the News.com article as well as other leaks dating back to early 2005. The board asked Keyworth, 66, to resign, but the former neutron physicist at New Mexico's Los Alamos National Laboratory refused to leave.
The investigation and attempted ouster of Keyworth riled another HP board member, Silicon Valley venture capitalist Tom Perkins, 74, a friend of Keyworth who immediately resigned and stormed out of the May meeting. HP would not provide details of the investigation, but Donovan said the SEC filing on Wednesday would include a timeline and other information about the probe.
Within days of Perkins' departure, HP submitted a 502(a) filing to the SEC, standard practice when a board member resigns for relatively innocuous reasons. HP did not file a 502(b), required when a board member resigns because of a disagreement with the company. In the months after his resignation, Perkins _ co-founder of blue chip venture firm Kleiner Perkins Caufield & Byers _ complained to other executives and to journalists about the investigation's potential ethical problems. He decried it as an invasion of privacy, noting that the investigation got details of phone calls to and from board members' homes.
Vox Day puts it down to the fact that it’s not just a woman but THIS woman who is the problem and it’s difficult to disagree after sifting through the material.
AP
HP board member George Keyworth, a physicist who served as science adviser to President Reagan from 1981 to 1986, will end his service on the HP board no later than March 2007, HP spokesman Ryan Donovan said.
'We believe that persons at all levels within the company _ directors, officers and employees _ must be held accountable and have the highest personal integrity,' Donovan said Tuesday. 'We've changed the culture of this company to one that's driven by accountability and meeting the needs of the customer. These changes have been painful, but we believe they're the right thing to do.'
Keyworth's departure comes after a January article on CNET Inc.'s News.com, which included a quotation from an anonymous HP source who described a gathering of HP directors at a posh spa in Indian Wells. The source's comment wasn't inflammatory and didn't contain information about future products or restructuring plans. 'By the time the lectures were done at 10 p.m., we were pooped and went to bed,' the source told News.com.
Nonetheless, the statement angered HP Chairwoman Patricia Dunn, 52, who has been on the board for eight years.
The non-executive chairwoman of the 11th largest company on the Fortune 500 oversaw the ouster of former HP CEO Carly Fiorina in February 2005 and the hiring of Mark Hurd as her successor _ both high-profile moves that also were leaked to the media. Dunn, CEO of Barclays Global Investors from 1995 to 2002, has been on the HP board since 1998 and was elected chairwoman in February 2005.
Dunn oversaw an extensive investigation of leaks and, at a board meeting May 18, identified Keyworth as the source in the News.com article as well as other leaks dating back to early 2005. The board asked Keyworth, 66, to resign, but the former neutron physicist at New Mexico's Los Alamos National Laboratory refused to leave.
The investigation and attempted ouster of Keyworth riled another HP board member, Silicon Valley venture capitalist Tom Perkins, 74, a friend of Keyworth who immediately resigned and stormed out of the May meeting. HP would not provide details of the investigation, but Donovan said the SEC filing on Wednesday would include a timeline and other information about the probe.
Within days of Perkins' departure, HP submitted a 502(a) filing to the SEC, standard practice when a board member resigns for relatively innocuous reasons. HP did not file a 502(b), required when a board member resigns because of a disagreement with the company. In the months after his resignation, Perkins _ co-founder of blue chip venture firm Kleiner Perkins Caufield & Byers _ complained to other executives and to journalists about the investigation's potential ethical problems. He decried it as an invasion of privacy, noting that the investigation got details of phone calls to and from board members' homes.
Vox Day puts it down to the fact that it’s not just a woman but THIS woman who is the problem and it’s difficult to disagree after sifting through the material.
AP
posted by James Higham @ 06:59
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