Feeds

HP board blackballs Walter

'Lack of candour and issues of trust'

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

Hewlett-Packard has dropped dissident director Walter Hewlett from the list of candidates up for re-election to its board.

In a strongly-worded statement, HP said: "The board's decision not to nominate Walter Hewlett is based on his ongoing adversarial relationship with the company, as evidenced by his recent litigation against HP, as well as concerns about his lack of candour and issues of trust."

Walter Hewlett, son of HP co-founder Bill Hewlett, has led the battle against HP's merger with Compaq. Last week, he filed a lawsuit alleging impropriety in how the IT giant solicited votes from institutional shareholders prior to a crucial vote on the merger.

Sam Ginn, chairman of the board's nominating and governance committee, met Hewlett after the shareholder meeting to build bridges. After this meeting the board had planned to recommend Hewlett's re-nomination.

That changed when Hewlett filed a "spurious" lawsuit against the company hours after the meeting, according to HP.

Hewlett, who has served on HP's board for 15 years, has defended his actions and expressed regret that he will no longer be able to serve on the IT giant's board.

"It is unfortunate that the HP board has seemingly missed what the company's stockholders have clearly recognised: that dissent is not disloyalty, that healthy boards need not agree on every issue," he said.

HP's 2002 annual meeting will take place on April 26 at the Flint Center in Cupertino, California. During the meeting shareholders will vote to approve the re-election of board members to HP. If the merger with Compaq completes prior to the meeting, they will also be invited to rubber stamp the appointments of former Compaq executives to the combined board. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.