An Update on the HP Board of Directors

Ralph Whitworth is the interim chairman of HP's Board of Directors.

Back at the beginning of April, I shared with you some important changes to the HP board. At that time, we said that we would be moving promptly to recruit several outstanding directors to the board before the end of this year. Transparency is a pillar of HP’s culture and our turnaround. In that spirit, I want to provide an update on this initiative.

Today, we announced the election of three new board members who jointly bring significant technology, finance and turnaround experience. These directors will bolster an already strong group of board members. The new members, who will start service immediately, are Robert “Dob” Bennett, former president and CEO of Liberty Media; Raymond E. Ozzie, founder of Talko Inc. and former chief software architect of Microsoft; and James A. Skinner, chairman of Walgreens and former CEO of McDonald’s Corporation. To accommodate these additions, we increased the board’s size from nine to 12 members.

Each of these new members brings tremendous relevant experience to the board. Dob brings management and capital allocation experience as both a finance executive and chief executive of Liberty Media. Ray is a technology visionary who brings years of experience from the start-up world and Microsoft. And, Jim brings executive management experience from his years leading McDonald’s highly successful turnaround.

Let me say on behalf of the entire board that we could not be more pleased with the caliber of these new board members and the incredible range of experiences that they bring. Their willingness to serve also testifies to the credibility and progress of our own turnaround. We are confident that these executives will hit the ground running as the board works to provide world-class corporate governance and support of Meg and her team’s enormous turnaround efforts.

Today’s announcement is a significant step in our journey to evolve our board of directors. We continue to look for a select few additional board members, including a permanent chairman to ultimately take my place as interim chairman. As I said back in April, “While sooner is better, rest assured we will not allow the rush of time to compromise our focus on recruiting the best of the best.” These searches continue as part of our overall director recruitment process, and I will provide additional updates as we make progress.

On behalf of the board, let me welcome Dob, Ray and Jim to the team. As part of their orientation over the next few months they will, of course, be meeting executive management and visiting some HP facilities, so if you happen to cross paths please join us in welcoming them and thanking them for their willingness to serve.