Sony Mobile with new CEO: Kunimasa Suzuki.

WorldWide Tech & Science. Francisco De Jesús.

Sony Mobile with new CEO: Kunimasa Suzuki.

Sony Mobile has announced that Sony Corporation's corporate executive officer and executive VP Kunimasa Suzuki (pictured) will become its new president and CEO from 16 May.

Suzuki will replace Bert Nordberg who headed up the business during its transition from Sony Ericsson to Sony Mobile following Ericsson’s exit from the handset joint venture, first announced last October. Nordberg becomes chairman of the Sony Mobile Communications board.

It was announced last week that Suzuki would assume responsibility for planning and design of all of Sony’s consumer products and services and to drive the horizontal integration of different product lines. The mobile business has been identified by Sony as one of its core electronics business areas.

Suzuki will continue in his Sony Corporation roles alongside his responsibility for the mobile division, and will be based in Lund, Sweden and Tokyo. Yoshihisa Ishida and Kristian Tear will continue as deputy CEO and executive VP of slaes and marketing for Sony Mobile, respectively.

“[Suzuki] is a strong leader and the right person to oversee Sony Mobile Communications as we establish a new business structure as ’One Sony’ intended to reinforce and accelerate our overall business management,” said Sony Corporation president and CEO Kazuo Hirai.

“Bert Nordberg has done an outstanding job in transforming Sony Ericsson, now Sony Mobile Communications, from a feature phone to a smartphone company,” Hirai added.

Speaking about his new role, Suzuki reiterated Sony Mobile’s plan to focus exclusively on smartphones in 2012. The first new smartphones since the exit of Ericsson were unveiled at GSMA Mobile World Congress in February.

Telia Sonera appoints former Nokia exec as CEO .

WorldWide Tech & Science. Francisco De Jesús.

Telia Sonera appoints former Nokia exec as CEO .

Finnish operator Sonera has appointed former Nokia exec Robert Andersson as president and CEO of the company. Andersson will join parent group TeliaSonera’s management team to oversee Sonera’s customer interface business units on 14 May and will report to TeliaSonera CEO Lars Nyberg. 

 Andersson was a member of Nokia’s Group Executive Board from 2005 to 2009.

Sony names new CEO Kazuo Hirai to impulse new innovative strategy to reenergise the company

WorldWide Tech & Science. Francisco De Jesús.

Sony names new CEO Kazuo Hirai to impulse new innovative strategy to reenergise the company.

Kazuo Hirai has been named as the new Sony Corporation CEO, taking over from Howard Stringer, according to Reuters.

Sony is currently struggling with persistent financial losses and stalling efforts to reignite its brand.

Hirai has been with Sony for 28 years and oversaw the rise of PlayStation gaming in the USA, he will take over as CEO and president on 1^st April.

Hirai was promoted to head the company's consumer products and services businesses in March 2011. The consumer products and services divisions produce the bulk of Sony's $85 billion in annual sales.

Hirai is tasked with reenergising Sony, and a chief strategy for this hinges on merging Sony's robust roster of entertainment properties, including singers Kelly Clarkson and Michael Jackson, and the Spider-Man and Men in Black film franchises, with its Vaio, Bravia and other electronics brands, in an effort to boost sales.

"The path we must take is clear," he said in a statement on Wednesday. "To drive the growth of our core electronics businesses - primarily digital imaging, smart mobile and games; to turn around the television business; and to accelerate the innovation that enables us to create new business domains."

Stringer will become chair man of the board of directors in June, Sony spokeswoman Mami Imada told Reuters. There are no plans to replace him in the chairman's role.

Sony's shares have shed nearly two-thirds of their value since Stringer took the helm as CEO and chairman in 2005 and the role of president in 2009.

Sony's shares listed in the US rose 0.6% on Wednesday while its shares in Japan closed trading about 2% lower at $17.91.

RIM named Thorsten Heins new President and CEO

WorldWide Tech & Science. Francisco De Jesús.

Thorsten Heins was named President and Chief Executive Officer at Research In Motion in January 22, 2012. He previously served as Chief Operating Officer, Product Engineering, overseeing the BlackBerry smartphone portfolio world-wide.

Prior to joining RIM in 2007, Thorsten held several positions in the wireless arena including the Chief Technology Officer of Siemens' Communications Division and several general management positions in Hardware and Software businesses.

Thorsten holds a master's degree in Science and Physics from the University of Hannover in Germany. Thorsten also serves as a member of the Board of Directors for the Canadian German Chamber of Industry and Commerce Inc. 

Press Release:

•    Board Acts on Recommendation of Co-CEOs to Implement Succession Plan 
•    Mike Lazaridis Named Vice Chair of the Board
•    Jim Balsillie Remains a Director
•    Barbara Stymiest Named Independent Board Chair
•    Prem Watsa Named Independent Director
   
Waterloo, ON – The Board of Directors of BlackBerry® maker Research In Motion (RIM) (NASDAQ: RIMM; TSX: RIM) today announced that, acting on the recommendation of its Co-Chief Executive Officers to implement the succession plan they previously submitted to the Board, it has unanimously named Thorsten Heins as President and Chief Executive Officer.  Mr. Heins was also appointed to RIM’s Board. The Board acted after conducting its own due diligence. Both appointments are effective immediately.

Mike Lazaridis, former Co-Chair and Co-CEO, has become Vice Chair of RIM’s Board and Chair of the Board’s new Innovation Committee. As Vice Chair, he will work closely with Mr. Heins to offer strategic counsel, provide a smooth transition and continue to promote the BlackBerry brand worldwide. 

Mr. Heins said he looks forward to continuing to work with Mr. Lazaridis, globally recognized as a technology pioneer. He said, “Mike created a whole new way of communicating and I look forward to continuing our close collaboration.”

On the transition to CEO by Mr. Heins, Mr. Lazaridis said, “There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the Board and told them that we thought that time was now.  With BlackBerry 7 now out, PlayBook 2.0 shipping in February and BlackBerry 10 expected to ship later this year, the company is entering a new phase, and we felt it was time for a new leader to take it through that phase and beyond.  Jim, the Board and I all agreed that leader should be Thorsten Heins.”

Jim Balsillie remains a member of the Board. “I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company,” he said. “I remain a significant shareholder and a Director and, of course, they will have my full support.”

Mr. Lazaridis said that he decided to move from Co-Chair to Vice Chair of the Board in order to return the public’s focus to what is most important: “the great company we have built, its iconic products, global brand and its talented employees.”  

Mr. Lazaridis added, “Thorsten has demonstrated throughout his tenure at RIM that he has the right mix of leadership, relevant industry experience and skills to take the company forward.  We have been impressed with his operational skills at both RIM and Siemens.  I am so confident in RIM’s future that I intend to purchase an additional $50 million of the company’s shares, as permitted, in the open market.”

Mr. Heins said he believes that RIM has tremendous potential.  He joined RIM from Siemens Communications Group in December 2007 as Senior Vice President for Hardware Engineering and became Chief Operating Officer for Product and Sales in August 2011.

“Mike and Jim took a bold step 18 months ago when RIM purchased QNX to shepherd the transformation of the BlackBerry platform for the next decade,” Mr. Heins said.  “We are more confident than ever that was the right path. It is Mike and Jim’s continued unwillingness to sacrifice long-term value for short-term gain which has made RIM the great company that it is today.  I share that philosophy and am very excited about the company’s future.”

Mr. Heins said that RIM has a strong foundation on which to build. “We have a strong balance sheet with approximately $1.5 billion in cash at the end of the last quarter and negligible debt.  We reported revenue of $5.2 billion in our last quarter, up 24% from the prior quarter, and a 35% year-to-year increase in the BlackBerry subscriber base, which is now over 75 million.”

Mr. Heins said, “BlackBerry 7 has been well received.  We are very excited about PlayBook 2.0 and BlackBerry 10.  The reception of our products at this year’s Consumer Electronics Show was encouraging.” 

He continued, “RIM earned its reputation by focusing relentlessly on the customer and delivering unique mobile communications solutions. We intend to build on this heritage to expand BlackBerry’s leadership position.” 

Mr. Heins said that RIM has grown quickly. “As with any company that has grown as fast as we have, there have been inevitable growing pains,” he said. “We have learned from those challenges and, I believe, we have and will become a stronger company as a result.

“Going forward, we will continue to focus both on short-term and long-term growth, strategic planning, a customer- and market-based product approach, and flawless execution. We are in the process of recruiting a new Chief Marketing Officer to work closely with our product and sales teams to deliver the most compelling products and services.”

Barbara Stymiest, who formerly served as a member of Royal Bank of Canada’s Group Executive and has been a member of RIM’s Board since 2007, has been named the independent Board Chair. John Richardson, formerly Lead Director, will remain on the Board.  Prem Watsa, Chief Executive Officer of Fairfax Financial Holdings, also was named to the Board, expanding it to 11 members.

Speaking on behalf of the Board, Ms. Stymiest said:  “We believe that Thorsten is the right executive to succeed Mike and Jim.  He has 27 years of telecommunications experience, including four years at RIM in senior management positions.  As a Board, we have been impressed with his outstanding management skills, his leadership and his accomplishments within the company.”

Ms. Stymiest also expressed the Board’s respect and admiration for Messrs. Lazaridis and Balsillie, the company they built, and the steps they have taken to position RIM for the future.

“They created RIM, nurtured it, and in the process not only built an iconic brand, but literally pioneered the smartphone industry,” she said.  “It is Canada’s largest tech company and one of the largest in the world.”

Conference Call and Webcast
A conference call and live webcast will be held beginning at 8 am ET, January 23, 2012, which can be accessed by dialing 1-800-814-4859 (North America), (+1)416-644-3414 (outside North America) or through your personal computer or BlackBerry® PlayBook™ tablet at www.rim.com/investors/events/index.shtml. A replay of the conference call will also be available at approximately 10 am ET by dialing (+1)416-640-1917 and entering passcode 4509630#. A replay of the webcast will be available on your personal computer or BlackBerry PlayBook tablet by clicking the link above. This replay will be available until midnight ET, February 6, 2012.

About Thorsten Heins
Thorsten Heins, 54, is a respected business leader with 27 years of broad experience and expertise in wireless networks and consumer electronics devices. Mr. Heins has a global reputation for his organizational and leadership skills and his ability to build successful organizations that deliver on their commitments. Prior to today’s announcement, Mr. Heins was one of RIM’s two Chief Operating Officers and, before that, Senior Vice President for the Handheld Business Unit.  He played key roles in the creation of RIM’s product portfolio. Mr. Heins came to RIM in December 2007 from the industrial conglomerate Siemens AG.  He joined Siemens in 1984 after graduating from the University of Hannover in his native Germany.  At Siemens, Mr. Heins rose through the ranks of R&D customer service, sales and product management positions.  After serving as Chief Executive Officer of various business divisions in the communication business, Mr. Heins moved to Chief Technology Officer and member of the Group Board of the Siemens Communications Group. He came to RIM after being impressed by the level of innovation displayed by founders Mike Lazaridis and Jim Balsillie. Mr. Heins is married with a daughter and a son. Away from RIM, he is usually outdoors bicycling, motorcycling, skiing or hiking.

About Barbara Stymiest
Barbara Stymiest has served as a director of RIM since March 2007.  She has an HBA from the Richard Ivey School of Business, University of Western Ontario, and an FCA from the Institute of Chartered Accountants of Ontario.  Ms. Stymiest joined Royal Bank of Canada in 2004, where she served as a member of RBC’s Group Executive, which is responsible for the overall strategic direction of the company.  Prior to that, she held positions as Chief Executive Officer at TSX Group Inc., Executive Vice-President and Chief Financial Officer at BMO Nesbitt Burns and Partner of Ernst & Young LLP.  Ms. Stymiest is currently a Director of George Weston Limited, Toronto Rehabilitation Institute, the Canadian Institute for Advanced Research, the Royal Ontario Museum. 

About Prem Watsa
Prem Watsa is the Chairman of the Board of Directors and the Chief Executive Officer of Fairfax Financial Holdings Limited, a financial services holding company whose corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value, since 1985. He is also Vice President of Hamblin Watsa Investment Counsel Ltd. since 1985. Mr. Watsa formerly served as Vice President of GW Asset Management from 1983 to 1984 and in various positions, ultimately as a Vice President, with Confederation Life Investment Counsel from 1974 to 1983.

About Research In Motion
Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. Today, BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe, Asia Pacific and Latin America. RIM is listed on the NASDAQ Stock Market (NASDAQ: RIMM) and the Toronto Stock Exchange (TSX: RIM). For more information, visit www.RIM.com or www.BlackBerry.com.

Canada: RIM board preparing to appoint independent chairman.

WorldWide Tech & Science. Francisco De Jesús.

BlackBerry maker RIM is reportedly preparing to relieve co-CEOs Mike Laziridis and Jim Balsillie of their titles of co-chairmen of the board and install independent director Barbara Stymiest in their place, according to Canada’s Financial Post.

Sources said Stymiest, the former Royal Bank of Canada COO who joined the RIM board in 2007, is the leading candidate to replace Laziridis and Balsillie, with the company under considerable pressure from shareholders, including a group led by Canadian merchant bank Jaguar Financial.

Seven independent directors of the RIM board, including Stymiest, are examining the board structure, and considering the possibility of an independent chair and how important it is for the business for Laziridis and Balsillie to have significant board titles in addition to their CEO remit.

A report is expected from the independent directors on 31 January. "The committee is on track to meet this schedule and the board will then publicly respond to the recommendations of the committee within 30 days," RIM said in a statement. However, the company did not comment on the possibility of a change in board leadership.

RIM agreed to a governance review in July last year to avoid a public confrontation at the annual general shareholders’ meeting. Shareholder Northwest & Ethical Investments had previously submitted a proposal to divide the chair and CEO roles and for there to be an independent chair.

RIM’s share price hit a seven-year low in November after the company’s stock price fell by more than 70 percent during 2011 as declining sales and earnings - as well as several service issues - took their toll.

Laziridis and Balsillie have been supported by the company’s independent directors in their commitment to develop a new OS for its products, based on the QNX platform which supports the BlackBerry PlayBook tablet. The first generation of devices using BlackBerry 10 – previously known as BBX - aren’t scheduled to appear until the second half of 2012 at the earliest.

Official biography for incoming HP CEO and President Léo Apotheker

Léo Apotheker has been named chief executive officer and president of HP, effective Nov. 1, 2010. He also will join the HP board of directors at that time.

Apotheker worked at SAP for more than 20 years in a variety of positions, most recently as chief executive officer. He served as a member of SAP’s executive board from 2002 until 2010. In addition to serving as co-CEO and CEO, he also previously served as deputy CEO, and, for five years, as president of Global Customer Solutions and Operations. For a period, he also had responsibility for SAP’s North American operations. From 1999 to 2002, he was president of SAP EMEA (Europe, Middle East and Africa); before that, served as CEO of South-West Europe Region; and was CEO and founder of SAP France and SAP Belgium. He started his career at SAP in 1988.

Apotheker was the founding president and chief operating officer of ECsoft BV, one of the largest European venture capital start-ups, from 1992 to 1994. He also has held leadership and management positions at ABP Partners, McCormack & Dodge Europe, S.W.I.F.T. and Altex GmbH.

Apotheker was born in Aachen, Germany on Sept. 18, 1953, and graduated with a B.A. in economics and international relations from Hebrew University, Jerusalem. He is fluent in five languages (English, Dutch, French, German and Hebrew) and was awarded the French Légion d’honneur in 2007 in recognition of his business leadership and contribution to the French economy.

Apotheker currently serves as vice chairman of the supervisory board of Schneider Electric SA, and is a member of the board of directors of GT Nexus and the board of PlaNet Finance, a not-for-profit organization.

Official: Léo Apotheker Named CEO and President of HP

Léo Apotheker Named CEO and President of HP
Ray Lane Joins HP as Non-Executive Chairman of the Board PALO ALTO, Calif., Sep 30, 2010 (BUSINESS WIRE) --
The Board of Directors of HP (NYSE: HPQ) today announced the election of Léo Apotheker as Chief Executive Officer and President. Apotheker, who previously served as CEO of SAP, will also join HP's Board of Directors. The Board also elected Ray Lane, Managing Partner at Kleiner Perkins Caufield & Byers, as a new member of the Board and designated him as non-executive Chairman. Both elections are effective November 1.


During Apotheker's more than 20 years at SAP, he was a driving force in making it the largest business software applications company in the world. Apotheker helped develop and implement the most significant changes in SAP history. During his tenure, he transformed R&D and technology platforms and expanded business models and customer segments. Apotheker also helped lead SAP to 18 consecutive quarters of double-digit software revenue growth between 2004 and 2009.

Lane has served on the Board of Directors of more than 20 public and private companies and joined Kleiner Perkins in 2000. Previously, he served as President and Chief Operating Officer at Oracle Corporation. Earlier in his career, Lane also worked at Booz Allen Hamilton, EDS and IBM.

"Léo is a strategic thinker with a passion for technology, wide-reaching global experience and proven operational discipline - exactly what we were looking for in a CEO," said Robert Ryan, lead independent director of the Board. "After more than two decades in the industry, he has a strong track record of driving technological innovation, building customer relationships and developing world-class teams."

Ryan continued, "Léo has been a leader in anticipating the transformation taking place in our industry, and we believe he is uniquely positioned to help accelerate HP's strategy. He has demonstrated success in the U.S. market and also has vast international experience - which will be a major asset as HP continues to expand globally, particularly in high-growth emerging markets. HP has the right assets and market positions, and now we have the best team to realize the company's enormous potential."

"HP has a powerful mix of businesses, products and services, one of the most innovative cultures in the industry, and an accomplished management team who have played a critical role in its success," said Apotheker. "I am deeply honored to be joining the more than 300,000 dedicated HP employees."
Apotheker continued, "Given HP's diversified products and services, its financial strength, and its leadership position across markets, no other company is as well positioned to drive - and profit from - the revolutionary changes under way in the marketplace. As we move forward, HP will continue to be a valued partner with our customers as well as a fierce competitor. I look forward to working with the outstanding people at HP to write the next chapter in the company's long and proud history."

"I am excited to join the Board of this pioneering company, and look forward to working closely with Léo - and the rest of the Board and senior management team - as they capitalize on the changes taking place across the industry," Lane said. "I have known and admired Léo for almost 20 years. He is ideally suited to build on HP's strong foundation, leverage its many assets and keep the company at the forefront of innovation."

Apotheker will succeed Cathie Lesjak, who was named interim CEO in August 2010. Lesjak, who has served as HP's Chief Financial Officer since January 2007, remains CFO and continues to serve as a member of the Executive Council. Ryan said, "Cathie is and will continue to be an important part of HP. We are extremely fortunate to have one of the deepest, most talented senior management teams in the industry and to have someone of Cathie's caliber lead HP during this interim period. On behalf of the entire Board, I would like to thank Cathie and our senior management team for maintaining HP's focus on serving customers and continuing to execute our strategy."

Financial analyst conference call details
On Friday, HP will host an audio webcast for financial analysts and stockholders to discuss the elections. Details are below:
When: Friday, October 1, 9 a.m. ET/6 a.m. PT
URL: www.hp.com/investor/home
It is recommended that attendees dial in 15 minutes early to avoid registration delays.

About Léo Apotheker
Apotheker worked at SAP for more than 20 years in a variety of positions, most recently as Chief Executive Officer. As a member of SAP's Executive Board from 2002 until 2010, Apotheker oversaw the full sweep of the company's operations. He led worldwide sales, service, and field operations for five years and more than doubled the number of customers; successfully turned around SAP's North American operations; and led more than a dozen acquisitions, including the approximately $7 billion takeover of Business Objects, the first major acquisition in SAP's history.
In addition to serving as co-CEO and CEO, Apotheker also previously served as deputy CEO, and, for five years, as President of Global Customer Solutions and Operations. For a period, he also had responsibility for SAP's North American operations. From 1999 to 2002, he was President of SAP EMEA (Europe, Middle East and Africa); before that, served as CEO of South-West Europe Region; and was CEO and founder of SAP France and SAP Belgium. He started his career at SAP in 1988.
Apotheker was the founding president and chief operating officer of ECsoft BV, one of the largest European venture capital start-ups, from 1992 to 1994. He also has held leadership and management positions at ABP Partners, McCormack & Dodge Europe, S.W.I.F.T. and Altex GmbH.
Apotheker was born in Aachen, Germany on September 18, 1953, and graduated with a BA in Economics and International Relations from Hebrew University, Jerusalem. He is fluent in five languages (English, Dutch, French, German and Hebrew) and was awarded the French Légion d'honneur in 2007 in recognition of his business leadership and contribution to the French economy.
Apotheker currently serves as Vice Chairman of the Supervisory Board of Schneider Electric SA, and is a member of the Board of Directors of GT Nexus and the Board of PlaNet Finance, a not-for-profit organization.
About Ray Lane
Lane is a Managing Partner at Kleiner Perkins Caufield & Byers. He sits on the boards of Fisker Automotive, GreatPoint Energy, Luca Technologies, Xsigo, Elance and Quest Software. Prior to KPCB, he was President and Chief Operating Officer of Oracle. Before joining Oracle, Lane was a Senior Partner with Booz Allen Hamilton and led that firm's Information Technology practice worldwide. Prior to Booz Allen Hamilton, he served as Division Vice President with EDS. In addition, he spent ten years with IBM in various product management, sales, and marketing positions. Lane received a bachelor's degree in mathematics and an honorary PhD in science from West Virginia University. He serves as Chairman of the Board of Trustees of Carnegie Mellon University, is on the Board of Governors of WVU, and serves as Vice Chairman of Special Olympics International.
About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at www.hp.com.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2010 and HP's other filings with the Securities and Exchange Commission, including but not limited to HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2009. HP assumes no obligation and does not intend to update these forward-looking statements.
© 2010 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.

SOURCE: HP 

5 internal candidates for next HP CEO

Hewlett-Packard Co.’s board is nearing a decision on a successor to Mark Hurd as chief executive officer, and is leaning toward picking an internal candidate, according to a person familiar with the matter.

The short list includes Vyomesh Joshi, who runs HP’s printer business; Todd Bradley, head of the personal-computer division; Dave Donatelli, who runs the storage and server unit; Tom Hogan, executive vice president of enterprise sales and marketing; and Ann Livermore, executive vice president of the enterprise business, said the person, who asked not to be identified because the talks are private and a choice hasn’t been made.

Directors of HP, the world’s largest computer maker, met this week to weigh possible successors to Hurd, who left Aug. 6 after an investigation found he violated business-conduct standards. While it hasn’t ruled out hiring from outside, HP may not be inclined to recruit from a rival, the person said. Hurd was hired from NCR Corp. and his predecessor, Carly Fiorina, came from Lucent Technologies Inc. and departed after the company’s market value slid on her watch.

A decision on the new CEO could be announced in the coming week, the person said.

Hiring from within would also help HP avoid a legal tussle over agreements that bar executives from switching employers. Top managers at International Business Machines Corp., for example, are required to sign agreements that prohibit such moves. IBM’s Steve Mills, who has experience in hardware and software, had been named by analysts as a potential candidate.

Search Firms

While HP has hired Spencer Stuart Inc. to handle the search, its directors are also weighing recommendations from other recruitment firms.

HP shares have slumped 15 percent since Hurd resigned Aug. 6 after a company investigation found that inaccurate expense reports filed by Hurd or on his behalf concealed a personal relationship with a marketing contractor named Jodie Fisher. The stock fell $1.21, or 3 percent, to $39.14 at 4 p.m. in New York Stock Exchange composite trading.

Bradley, Donatelli and Livermore are all “well known, well respected and good candidates for the position,” Ted Moore, a portfolio manager at Fifth Third Asset Management, said in an interview with Bloomberg Television. “They have a lot of bench strength at HP.”

Mylene Mangalindan, a spokeswoman for HP, declined to comment.

Internal and Outside

Oracle Corp. said on Sept. 6 that it hired Hurd as a president. That elicited a lawsuit from HP, which said that serving as an Oracle president would make it “impossible” for Hurd to avoid using or disclosing HP’s trade secrets and confidential information, according to a complaint in California’s Santa Clara County Superior Court.

Cathie Lesjak, HP’s chief financial officer, has served as interim CEO since Hurd left. She said in August that she doesn’t want to be considered for the job. The company has been interviewing CEO candidates and is “pretty open to either” internal or outside prospects, Lesjak said at a Citigroup Inc. conference Sept. 8 in New York.

Source: http://www.businessweek.com/news/2010-09-17/hp-said-to-be-near-decision-on-mark-hurd-s-successor.html

  

CNBC News: Was Hurd losing his edge anyway?

Hewlett-Packard CEO Mark Hurd unexpectedly resigned on Friday after a sexual harassment probe found he had a "close personal relationship" with an HP contractor who received improper payments.

The shocking announcement from the world's top personal computer maker sent its shares plunging 10 percent as Hurd is one of the most admired chief executives in Silicon Valley and credited with reviving the company after the tumultuous reign of Carly Fiorina.

Getty Images Mark Hurd

HP's stock lost $9.0 billion in market capitalization in after-hours trading, tumbling to multi-year lows.

The company said one of its former contractors, involved in marketing activities from late 2007 to the fall of 2009, had levied sexual harassment allegations at Hurd.

HP said Hurd, who is 53 and married, had a "close personal relationship" with the contractor. An investigation found no violation of HP's sexual harassment policy, but did find that Hurd violated standards of business conduct, HP said.

There were instances where the female contractor received compensation or reimbursement without a legitimate business purpose, HP said.

A source familiar with the situation told Reuters that Hurd never had sex with the woman and that the expense account issues stretched over two years and amounted to no more than $20,000.

"The board investigation found that Mark demonstrated a profound lack of judgment that seriously undermined his credibility and damaged his effectiveness in leading HP and Mark agreed," HP General Counsel Mike Holston said.

Hurd will be replaced by Chief Financial Officer Cathie Lesjak on an interim basis. Lesjak has taken herself out of consideration as the permanent CEO, HP said.

Hurd said the decision to step aside was a "painful" one.

"I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP," Hurd said in a statement.

Hurd will be well compensated as he departs HP. An SEC filing examined by CNBC indicated that Hurd is contractually entitled to $52.9 million in the event of a resignation.

The filing, dated 2009, says that total is composed of $11.6 million in cash, with the remainder in stock options and restricted stock.

A source close to Hurd put his current severance at about $40 million.

News of the shake-up stunned the technology world. HP is the largest technology company in the world on a revenue basis, and is a major player in personal computers, servers, services and printers.

"Shock and puzzlement, that's how it's going to go down," said Russell Hancock, president and chief executive of Joint Venture Silicon Valley, an area business group. "There wasn't anybody who criticized his handling of the company."

The buttoned-down Hurd brought stability to HP after Fiorina resigned in February 2005 in the wake of a controversial deal to acquire PC maker Compaq.

"Mark Hurd was extremely instrumental in turning this company around," said Susquehanna Financial Group analyst Jeffrey Fidacaro. "There's going to be a serious gap in leadership at the top of this company."

HP, a Silicon Valley icon that was founded in a Palo Alto garage in 1939, has experienced a fair amount of turmoil in recent years. In 2006, former HP Chair Patricia Dunn resigned after reports surfaced that the company had hired private investigators to spy on board members and journalists to plug media leaks.

A Succesful Tenure

Shares of HP have more than doubled since Hurd, the former CEO of NCR Corp, took the helm five years ago, cutting costs and expanding HP's footprint in the services market with acquisitions like the 2008 purchase of EDS Corp for $13.9 billion.

In a bid to reassure investors that its financials are healthy despite the departure of Hurd, HP raised its outlook for the full year, saying it now expects profit, excluding items, of $4.49 to $4.51 per share, compared with a previous outlook of $4.45 to $4.50.

HP said its board of directors has formed a search committee to find a new chief executive and board chair.

"It's a negative because the positive leadership that HP has had under Hurd is identified with his name," said Nehal Chokshi, an analyst with Technology Insights Research-Southridge Research Group.

HP, which was scheduled to report quarterly earnings later this month, also pre-reported its results.

Shares of Palo Alto, California-based HP [HPQ 46.30 -0.05 (-0.11%) ] closed at $46.30 on the New York Stock Exchange and fell to $41.50 in extended trading. Get after-hours quotes for HP here.
IF YOU CAN´T WATCH THIS CNBC VIDEO, PLEASE GO TO THIS LINK: http://www.cnbc.com/id/15840232?video=1560877939&play=1