News

HP CEO Meg Whitman named board chair

Alcoa CEO Klaus Kleinfeld joins board of directors, HP says

Hewlett-Packard President and CEO Meg Whitman will add "chairman of the board of directors" to her title, the Palo Alto-based company announced Thursday.

Whitman, an Atherton resident who has been president and CEO since September 2011 and a board member since January 2011, replaces Ralph Whitworth, who resigned as interim board chair earlier this week, citing health concerns.

The company also announced that Klaus Kleinfeld, chief executive and chairman of aluminum manufacturer Alcoa, has been appointed to the board, bringing the total number of HP board members to 12. Current director Pat Russo, former CEO of Alcatel-Lucent, will become lead independent director.

"I'm extremely pleased that the board has elected Meg its chairman and Pat lead independent director," Whitworth said in a statement.

"Meg and Pat are unwavering in their commitment to the corporate governance, capital allocation and management incentive principles that drove our decisions these past three years. They will stick to and strengthen the critical practices and disciplines we've put in place. HP is in great hands."

Gary Reiner, chair of the board's Nominating, Governance and Social Responsibility Committee, said: "Meg has been an outstanding leader since coming to HP, and we believe that as chairman she can most effectively drive the turnaround and continue to build value for our shareholders."

Kleinfeld, former CEO of Siemens, will take over chairmanship of the HP board's Nominating, Governance and Social Responsibility Committee. Board member Robert Bennett will become chairman of the Finance and Investment Committee, the company said.

— Palo Alto Weekly Staff

Comments

There are no comments yet. Please share yours below.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Choose a category: *

Since this is the first comment on this story a new topic will also be started in Town Square! Please choose a category that best describes this story.

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Palo Alto quietly gets new evening food truck market
By Elena Kadvany | 3 comments | 2,571 views

On Tour - The Highly Selective Liberal Arts Colleges: Occidental, Pitzer, and Scripps
By John Raftrey and Lori McCormick | 1 comment | 1,601 views

See Me. Hear Me. Donít Fix Me.
By Chandrama Anderson | 2 comments | 1,402 views

As They Head Back To School, Arm Them With This
By Erin Glanville | 5 comments | 717 views

Anglo Menlo Park
By Paul Bendix | 0 comments | 106 views