HP Names 3 Board Members Amid Turnaround Push

CEO Meg Whitman has portrayed HP's turnaround as a multi-year effort. She has been overhauling the company's product line and pushing into more profitable niches in business software, data analysis and storage and technology consulting. HP also is in the process of eliminating nearly 30,000 jobs and shedding other expenses.

Mnet 179391 Hplead 1

NEW YORK (AP) -- Hewlett-Packard Co. says it named three new members to its board, including former executives from McDonald's and Microsoft, as it forges ahead with its turnaround push.

The company, based in Palo Alto, Calif., said Monday that it appointed former McDonald's CEO Jim Skinner; Raymond Ozzie, former chief software architect at Microsoft Corp. and Robert Bennett, former president and CEO of Liberty Media Group.

The appointments, which are effective immediately, boost the number of directors to 12, up from nine.

HP has been struggling amid declining PC sales, with people spending their money on smartphones and tablet computers instead. Like many other PC manufacturers, HP was slow to respond to the shift and then stumbled trying to catch up with Apple Inc. and other manufacturers, such as Samsung Electronics Co., that make devices running Google Inc.'s Android operating system.

CEO Meg Whitman has portrayed HP's turnaround as a multi-year effort. She has been overhauling the company's product line and pushing into more profitable niches in business software, data analysis and storage and technology consulting. HP also is in the process of eliminating nearly 30,000 jobs and shedding other expenses.

The company says Skinner is joining the audit, human resources and compensation and nominating and governance committees. Ozzie will join the technology and finance and investment committees and Bennett will join the finance and investment and audit committees.

HP shares rose 12 cents to $26.31 in premarket trading about a half-hour before the market opening.


More from MBTMag.com

Hyundai U.S. CEO: We Can't Build Cars Fast Enough

Nissan Re-Launches Datsun In India After 30 Years

3D Systems Completes Acquisition Of Phenix

Explore more news here.

More in Home