HP Board Appoints Spencer Stuart
for Chief Executive Search
PALO ALTO, Calif., Aug. 18, 2010
The board of directors of HP today announced that it has appointed Spencer Stuart to handle activities related to the search for a new chief executive officer of the company. The search will consider both internal and external candidates.
The board also appointed John H. Hammergren as Chair of the Search Committee. As previously announced, the committee also includes Marc Andreessen, Lawrence T. Babbio, Jr., and Joel Z. Hyatt.
“The Spencer Stuart team will be instrumental in helping us identify a CEO with the right leadership qualities to move HP into the next phase of growth,” said Hammergren. “We look forward to conducting a swift, thorough and confidential search process, and accordingly we will have no further comment until we are ready to announce our new CEO.”
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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 (NYSE: HPQ) is available at http://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 April 30, 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.
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