HP Still Facing Troubled Times
June 24, 2013
The TV show The Office appears as a motif for being constantly plagued in Yahoo Finance’s recent article on Hewlett-Packard. Appropriately, the article is titled “’The Office’ of CEO: HP’s Revolving Door.” The focus of the article lies on what the author of this piece calls the historic waste and dysfunction. Needless to say, this is an area where comparisons to the popular NBC sitcom are brought up.
HP has has six CEOs since 2005, and that is not counting interim CEOs. However, the article credits the current CEO, Meg Whitman, as bringing more stability to the company.
The Autonomy acquisition did not escape the wrath of this commentary:
“Most recently the company was embarrassed to reveal an estimated $8.8 billion write-down for a botched acquisition for British software company Autonomy, a deal that took place in 2011. Unlike any other company over the past decade, Hewlett-Packard has not been able to get out of its own way. Accordingly, the office of the CEO has had a revolving door. “
While it seems like just yesterday that many in the media were “Making Sense of HP’s Autonomy Acquisition,” the jury seems to have called it now and “HP’s Autonomy Blunder Might Be One for the Record Books.”
Megan Feil, June 24, 2013
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