23
http://nypost.com/2005/02/10/fiorina-flops-h-p-chiefs-ousted-amid-compaq-deal-backlash/
Her missteps:
* May 2002: Compaq deal, which failed to improve margins and boost profit
* Aug. 2002: H-P cited discounting costs as profit missed targets
* Aug. 2003: Fiorina fired three sales execs, as shares plunged 13% on what she called “unacceptable” profits.
* Pushing PC unit – with weak gross margins – while falling behind in the high-margin servers and storage businesses
http://www.wsj.com/articles/SB110795431536149934
H-P’s Board Ousts Fiorina as CEO
Amid Languishing Stock, Computer Chief Resists Pressure to Delegate
EXCERPT
Three H-P directors — former H-P executive Richard Hackborn, George Keyworth, science adviser to President Reagan, and Ms. (Patricia) Dunn — met with Ms. Fiorina in early January and presented her with the four-page document outlining the board’s concerns, said a person familiar with the situation. The three directors read the contents of the document out to Ms. Fiorina, this person said. Ms. Fiorina “got the message pretty clearly,” said this person.
The Compaq deal has to be one of the stupidest deals ever... Hey, we have this low margin pc business that is now a commodity and will never see more than 6 or 7% margin no matter what we do.... how can we improve? Oh I know, lets buy out another business that makes the same commodity product and somehow that will save us.....
Carly was in over her head, the HP board wanted a woman CEO, instead of a good CEO, so they gave her the job and once she was in, they couldn’t fire her when it became obvious she was over her head, so she kept driving the business into the dirt for years before they finally got rid of her.
She has ZERO business anywhere near the reigns of power of government or business.... I am sure she did her best, that is one statement that if she has ever stated, is honest, but anything else claiming her tenure as CEO was not a disaster is a flat out lie.