Hewlett-Packard's new president and chief executive Carly Fiorina said yesterday she will focus the company on improving its sense of urgency in her first few months in the new role.
Fiorina, whose appointment was announced yesterday (see Newswire 19 July), said she also intended to "invigorate" HP's competitive spirit.
"We also need to look at how to more effectively leverage HP's labs as a basis for innovation," Fiorina added in a teleconference with journalists yesterday evening.
Fiorina, formerly president of Lucent technologies' Global Service Provider business, will take over her new role immediately, while Lew Platt, former Hewlett-Packard chief executive, will remain as chairman until the end of the year.
When Platt retires, he will be replaced by former Hewlett-Packard executive and current member of the company board of directors, Dick Hackborn, who will become non executive chairman.
Fiorina would not be drawn on exactly how much she would be paid in her new job but said her compensation package is "fairly typical of a high tech start up company - heavily equity based." She added that it would include a one time grant of restricted shares to match what she gave up at Lucent.
Full details of her package will be released in the next 30 days.
Fiorina was chosen over internal candidate Ann Livermore, currently president of Hewlett-Packard's enterprise computing division and who has spent over 17 years at the company.
Jane Doorly, senior analyst at research company Gartner Group, said she was surprised at the company's choice.
"I'm very surprised that Ann Livermore was passed over, she's been very loyal to HP," she said.
Doorly added that it was "quite possible" that Compaq would approach Livermore as a potential chief executive candidate now that she had been passed over for the HP chief executive position.
Thomas Meyer, research analyst at IDC, said HP's choice was a positive one.
"Overall, it looks good, at least they beat Compaq. In a way HP is going for the air and flair of a new company - for example with its new ebusiness strategy and now having a female head, this is quite progressive. We do see more and more women in the board room now, but not right at the top," he said.
Although Livermore was mentioned as the top internal candidate, HP made it fairly clear it wanted an outsider to bring in some new ideas, while also having HP's core values.
"It also confirms the company believed it would get more value from an outsider. I think she fits into the character of HP, she was at the same company for 20 years - it shows the same steadfastness as HP and she's loyal," he concluded.
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