Hewlett-Packard Co. (HP, Houston, TX) announced that Mark Hurd will serve as the company's new Chief Executive Officer and President, replacing the Carly Fiorina. The HP board unanimously selected Hurd based on his track record leading a complex organization, as well as his strong executive and personal qualities. A 25-year veteran and two-year CEO of NCR Corp., Hurd is known for driving the company's Teradata division.
HP's Non-Executive Chairman Patricia Dunn said, "Our search for a new leader to return HP to sustained success has been focused and thorough. Mark came to our attention because of his strong execution skills, his proven ability to lead top performing teams and his track record in driving shareholder value. He demonstrated these skills by turning around NCR, which, while smaller than HP, is a complex organization with multiple business segments."
Hurd will take up his new duties on April 1, 2005, and will join HP's board. He succeeds Robert Wayman, a company veteran who has been CFO since 1984 and was named interim CEO in February 2005. Wayman will remain CFO and continue to serve as a member of HP's board.
