Hewlett-Packard Interim Chairman Whitworth resigns

Published on NewsOK Modified: July 15, 2014 at 9:37 am •  Published: July 15, 2014
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PALO ALTO, Calif. (AP) — Hewlett-Packard's interim chairman, Ralph Whitworth, has resigned from the company's board to concentrate on personal health issues.

Whitworth's resignation is effective on Wednesday. The technology products and services company said that its board will discuss appointing a new chairman at its next meeting.

Whitworth became HP's interim chairman in April 2013 after former chairman Ray Lane stepped down from his post. At the time that Lane stepped down, HP also announced that directors John Hammergren and G. Kennedy Thompson were leaving the board. The shake-up was spurred by disgruntled stockholders unhappy with HP's performance.

HP has been working on a turnaround of its business amid slumping PC sales in recent years, cutting expenses and focusing on more profitable areas such as software and services. Like other PC makers, the company had trouble keeping up with the likes of Apple and Samsung. Whitman has warned that the turnaround will be a long-term endeavor. The company's most recent earnings report, in February, topped Wall Street's expectations.

Whitworth, an activist shareholder, has served as an HP board member since 2011. The co-founder of Relational Investors LLC, he was named to the company's board to placate investors rattled amid management turmoil at the company following CEO Mark Hurd's ouster in 2010 amid an ethical scandal. Hurd's successor, Leo Apotheker, was ousted in September 2011 and replaced by former eBay CEO Meg Whitman, who is still at the company's helm.

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