Posted on 08/16/2015 11:14:00 AM PDT by jimbo123
She’s running for President on her track record as CEO of HP, but if that’s the case, Fiorina might want to rethink her strategy.
-snip-
Still, with a scant 5% of Fortune 500 firms employing women CEOs, her leadership of a huge global enterprise in the macho field of IT is impressive. But how did she do?
The answer in short is: Pretty badly.
In 1999, a dysfunctional HP board committee, filled with its own poisoned politics, hired her with no CEO experience, nor interviews with the full board. Fired in 2005, after six years in office, several leading publications titled her one of the worst technology CEOs of all time. In fact, the stock popped 10% on the news of her firing and closed the day up 7%.
Arianna Packard, the granddaughter of HP’s founder, commented when discouraging voters from supporting Fiorina in her 2010 senatorial run, “I know a little bit about Carly Fiorina, having watched her almost destroy the company my grandfather founded.”
However, before Conservative Political Action Caucus in February, Fiorina proclaimed that under her HP command, “We would double its revenues to $90 billion, triple its rate of innovation to 11 patents a day, and go from a laggard to a leader in every product category and every market segment in which we competed.”
Sure, she doubled revenues—through a massive, ill-conceived, controversial acquisition of Compaq Computer in 2002—but Fiorina did nothing to increase profits over her five-year term, with the S&P 500 showing net income across enterprises concomitantly up 70%. Furthermore, shareholder wealth at HP was sliced 52% under her reign against the S&P, which was down only 15% in that bearish period. She modeled the old joke of “making it up in the volume.”
(Excerpt) Read more at fortune.com ...
1999 to 2005 was a very tough time to be in high tech. A lot of companies went out of business. H-P didn’t.
Too late for Carly as far as I’m concerned. As soon as she played the womb card after the debate, she became just another middle aged female unfit for public office.
that’s why the MSM wants her in the top echelon so she’ll be easy to target past the primaries. Heck, she walks and wreaks RINO whenever some crap comes out of her mouth.
So did I, and for the same reason.
Agreed!
Ditto. Not ready for the big league.
For me it was attacking Trump for his relationshio with Clinton when she has been part of Clinton Foundation personnel for years. Hypocrite!
The recent revelation that Carly would have supported Hillary if she hadn't already endorsed McCain is a show-stopper for me. Like McCain, I think Carly really has no principles that guide her choices; except self-interest of course.
I took the time to look at the HP record for every CEO for 7 or 9 back.
The company prospered under every male and tanked under every female, including Carly.
Why would I vote for someone with a record of putting their company in the dumper?
Carny is bleeding from wherever.
The Womb Card? I’ve got to try harder to keep up with the rest of the class.
That’s right and every time I see all the BS about her at HP it makes me sick. Take a look at the next two guys, one fired for using “women in Marketing” little more than escorts. He had a slush fund for girlfriend on his payroll and her girls at trade shows. Then the next guy was so ready to remove every part of HP except services he was gone in less than a year - next comes Meg.
Yeah, my son worked for HP during those days. He was a survivor and moved on around 2006. He actually thought what Fiorina did for HP was what was necessary at the time.
We need her going after Hillary and certainly as an alternative to Bush. Kasich, Rubio, Etc. too bad she made the mistake of trashing Trump.
Yeah, comparing a tech company's decline from the apex of the tech boom to 2005 against the broader S&P500 is a tad disingenuous. Why not compare it to NASDAQ? It was still down 60% from the peak of the bubble in 2005...
I know little of her time and performance at HP, but that is a cherry picked stat.
I’m conflicted. I see that Carly has a legacy of ‘being associated with’ failed companies and failed campaigns. I also see that she has a tremendous stage presence and a most professional deportment. She is so damn articulate.
She may not be primed for the presidency, but I hope we can use her in other ways. Maybe a visiting guest contract on Fox to start. How about having her take Reince Priebus place when he finally goes. I would pay money to see Carly have at it with Debbie Wash-herself-Schultz, earring to earring!
I hadn’t heard the one about John McOldFogey, but the great part about these campaigns, is the truth will be come evident if you pay attention to facts, and quit listening to talking heads.
The first time I ever heard of Fiorini was from a neighbor that worked at AT&T. He ranted about her a couple of times, complaining about the harm she was doing to the business of the facility he worked at, and finally managed to transfer to Bell Labs before the facility ended up closing.
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