March 29, 2005

Hewlett-Packard picks NCR's Hurd as new CEO

Hewlett-Packard Co. has picked NCR Corp. Chief Executive Mark Hurd as the next leader of the giant computer and printer maker, the Wall Street Journal reported on its Web site Tuesday, citing unnamed people familiar with the matter. H-P is expected to announce the appointment later Tuesday, these people
Mark Hurd
AP Photo

reportedly told the Journal. Hurd will succeed Carly Fiorina, whom the technology giant forced out in February after she disagreed with the board over how to structure Hwelett-Packard.

Hurd, a veteran NCR executive who became CEO of the Dayton, Ohio technology company in 2003, faces a tough task taking the helm of the Palo Alto, Calif., computer-and-printer maker. Coming from the much smaller NCR, Mr. Hurd will have to wring growth from a sprawling portfolio of business at H-P, which makes everything from server-computers to printers to calculators. He will have to deal with fierce competition from rivals such as International Business Machines Corp. and Dell Inc. Moreover, he will have to convince Wall Street that the right strategy for H-P is to stick with such a large group of businesses. Many investors, disappointed with H-P's flat stock price, have recently called for the company to be broken up.

An H-P spokesman declined to comment other than to say that "the CEO search is progressing well." An NCR spokesman declined to comment.

Link: Wall Street Journal (reg. required)


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