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Computer industry

Hewlett-Packard Appoints Carly Fiorina as New President and CEO

Strategic Insights

— 1 min read

Carly Fiorina, the president of Lucent's Global Service Provider Business, has been appointed as the new president and CEO of Hewlett-Packard (HP) Company, succeeding Lewis E. Platt. Fiorina brings nearly 20 years of technology and telecommunications experience to the role, with a proven track record of growing large businesses and driving innovation. As president of Lucent's Global Service Provider Business, she successfully increased the division's growth rate, expanded its international revenues, and gained market share in every region.

Key Takeaways:

  • Carly Fiorina, a veteran of Lucent and HP, has been appointed as the new president and CEO of HP, succeeding Lewis E. Platt.
  • Fiorina brings a track record of growing large businesses and driving innovation to the role, with nearly 20 years of experience in the technology and telecommunications industry.
  • During her tenure at Lucent's Global Service Provider Business, Fiorina increased the division's growth rate, expanded international revenues, and gained market share in every region.
  • Fiorina has a strong background in strategy development and execution, having spearheaded the planning and execution of Lucent's 1996 initial public offering and subsequent spin-off from AT&T.
  • As president of HP, Fiorina will oversee the company's transformation into a leading global provider of computing and imaging solutions and services for business and home.
  • Lewis E. Platt, 58, will remain chairman of HP until year-end, by which time the company's computing and imaging businesses are expected to be independent of its measurement businesses.

Statistics:

  • HP's revenues have grown 187 percent since 1992, from $16.5 billion to $47.1 billion in 1998.
  • HP's earnings have grown 436 percent over the same period, from $673 million to $2.4 billion.
  • Electrical and Electronics sales accounted for 88% of Hewlett-Packard (HWP) Company's fiscal 1998 revenue of $47.1 billion.
  • Carly Fiorina has been named by Fortune as the most powerful woman in American business.

Sources:

  • Hewlett-Packard Company (1999, July 19). President of Lucent's $20+ Billion Global Service Provider Business is Dynamic Technology Leader with Proven Track Record of Growing Large Businesses.
  • Fortune (1999). The Most Powerful Women in American Business.
  • Lucent Technologies (1996). Initial Public Offering Press Release.
  • Hewlett-Packard Company (1998). Annual Report.

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