Hewlett-Packard Co. Chairman and CEO Carly Fiorina, one of the most powerful women in corporate America, is leaving the troubled computer maker after being forced out by the company's board.
Shares of HP (Research) jumped 6.9 percent in heavy trading on the New York Stock Exchange Wednesday on the news. But at one point, the stock was up as much as 10.5 percent.
"The stock is up a bit on the fact that nobody liked Carly's leadership all that much," said Robert Cihra, an analyst with Fulcrum Global Partners. "The Street had lost all faith in her and the market's hope is that anyone will be better."
Fiorina, the only female CEO at a company in the Dow Jones industrial average, had been with HP since 1999. But the company's controversial deal to buy Compaq in the spring of 2002 -- after a bruising proxy fight led by one of the Hewlett family heirs -- has not produced the shareholder returns or profits she had promised.
So is she competent enough to run this state? Sarah was touting CFs business creds wasn’t she?
What do you think of her?
BTW, HP was mired in complacency when she took over. All they did was printers and entry-level computers. Carly tried to implement some changes and shake up the status quo but ran into negative public opinion about her by the heirs and shareholders who wanted to keep things the way they were. The company lost its innovative touch that it was known for before Carly took over.