HP rebuffs attempt to oust 2 directors from board

Mar 20, 2013

(AP)—Hewlett-Packard Co. has barely rebuffed a shareholder rebellion aimed at ousting the two longest-serving directors from its board.

John Hammergren and G. Kennedy Thompson both were re-elected by unusually narrow margins Wednesday during 'S annual meeting.

Hammergren received support from nearly 54 percent of the ballots cast. Thompson was backed on 55 percent of the ballots.

The results are preliminary.

Nine other HP directors were also re-elected. All but two of those other directors received at least 80 percent of the votes.

Shareholders exasperated with a series of botched HP targeted Hammergren and Thompson because of their lengthy tenures and their involvement with committees that had oversight over the deals.

The soured acquisitions are a key reason why HP's stock is worth half what it was three years ago.

Explore further: HP sales inch up while profit drops

not rated yet
add to favorites email to friend print save as pdf

Related Stories

HP to face testy shareholders at annual meeting

Mar 20, 2013

Hewlett-Packard Co.'s annual meeting will give shareholders an opportunity to vent their frustration over the personal computer maker's botched acquisitions and other follies that have been plaguing the Silicon Valley pioneer ...

HP extends offer for Autonomy

Sep 13, 2011

US computer giant Hewlett-Packard said on Tuesday it is extending its $10.24 billion offer for Autonomy as it seeks to bring more shareholders of the British software company on board.

HP shares up on CEO ouster reports

Sep 21, 2011

Hewlett-Packard shares surged on Wall Street on Wednesday amid reports that chief executive Leo Apotheker, hired less than a year ago, could be on his way out.

Recommended for you

HP sales inch up while profit drops

5 hours ago

Hewlett-Packard on Wednesday reported that its quarterly revenue was nudged up by improved computer sales, but its profit dropped as the veteran technology firm tried to renew its momentum.

Restaurants experimenting with pay-in-advance tickets

8 hours ago

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

10 hours ago

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0