HP Vulnerable After Unceremonious Exit Of Mark Hurd, Says Industry Insiders

August 8th, 2010 - 9:02 pm ICT by GD  

By Ranjan Bhaduri
hp_sign1Aug 8, (THAINDIAN NEWS) The unexpected exit of HP’s ex CEO Mark Hurd may hit the Palo Alto based technology giant hard, the IT industry insiders are claiming. The company faces a leadership crisis since the ex CEO used to hold the position of chairman and CEO of the company. His exit also comes with a hefty severance deal worth $12.2 million. The focus of the shareholders, customers as well as the employees of the company on the management and they will be held answerable for whatever they do in this crucial period before the next CEO assumes his office. As of now, the CFO of the company Cathie Lesjac has been selected as the interim CEO but she would not hold the post forever, as she has indicated.

The shareholders of the company are a worried lot now and despite the soothing words of the CGO about no change in the company’s operations their worries would not dissolve till a worthy successor steps in the post left vacant by Mark Hurd. No matter how much he violated the business ethics of the company the management admits that Mark Hurd took the reins at HP when the company was in one of its bad phases. He played a pivotal role in boosting its profits steadily over the years and the employees used to think of him as a workaholic boss who gives highest priority to work.

Some people may also point fingers to the fact that while the ex CEO made HP a dominant force industry in his tenure, he got hefty package for that. In fact he was among the best paid CEOs listed by Forbes magazine.

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