The recent departure of 5 board members can be linked to the handling of ex-ceo Mark Hurds departure from the company. Share holders were upset with his severance package and are currently in suit with the company.
HP named 5 new directors to the board. In this addition they added 3 women to their board of directors more than doubling the average of women on any board. Some believe this may be a PR push to boost the image of the company but the individuals added to the board are all extremely qualified and have specialties in different areas. It is very beneficial to have a diversified board enabling a strong foresight in the industry.
"Corporate governance expert Nell Minow of Governance Metrics International told MarketWatch’s Benjamin Pimente that the H-P board “has long been overdue for a shake-up,” adding, “I give them credit for recognizing that.”" I agree with Nell the management shake up is very beneficial for the company and is expected when a new CEO joins a company.
New Board Memebers
Meg Whitman - Ex - CEO of eBay
Patricia Russo - Ex-CEO of Alcatel-Lucent
Dominique Senequier - CEO of Paris-based AXA Private Equity
Shumeet Banerji - CEO of Booz & Company
Gary M. Reiner - Ex - CIO of General Electric
Current Price of HP after hours January 21st : 46.95