Ralph Whitworth, the interim chairman of the board of directors of Hewlett-Packard Company (NYSE:HPQ) resigned from his position due to health concerns. According to the PC maker, Whitworth will no longer serve its board effective tomorrow, July 16.
“Ralph has been a friend and close advisor to me, the HP leadership team and every member of the board for nearly three years. He has been a wonderful contributor to our efforts to turn HP around, said Meg Whitman, president and chief executive officer of Hewlett-Packard Company (NYSE:HPQ).
ValueWalk's Raul Panganiban interviews William Burckart, The Investment Integration Project’s President and COO, and discuss his recent book that he co-authored, “21st Century Investing: Redirecting Financial Strategies to Drive System Change”. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors.
She also described Whitworth as man with a passion and incredible mind for business, and will be deeply missed by all of the employees at Hewlett-Packard Company (NYSE:HPQ). “We wish Ralph and his family the very best,” added Whitman.
Hewlett-Packard is in steady hands
On the other hand, Whitworth said Hewlett-Packard Company (NYSE:HPQ) made “enormous progress” reorganizing its board of directors, implementing world-class capital allocation and corporate governance practices as well as returning to a strong financial position.
He emphasized that the shareholders of Hewlett-Packard Company (NYSE:HPQ) can have great confidence in Whitman, her team and the current board to keep the strong practices and discipline they implemented.
Whitworth added, “While I’m disappointed to step down from HP’s board at such an exciting time for the company, it gives me great comfort that HP is in such talented and steady hands.”
Whitworth became interim chairman of Hewlett-Packard Company (NYSE:HPQ) in 2013. He was a member of the board of the PC maker since 2011. He is the co-co-founder and principal of Relational Investors, an investment management advisor. He will also take a leave of absence from Relational Investors to focus on his health.
According to Hewlett-Packard Company (NYSE:HPQ), it board of directors will discuss the appointment of a new chairman during their next board meeting.
Hewlett-Packard, Microsoft partners in Windows Server 2003 transition
Yesterday, Hewlett-Packard Company (NYSE:HPQ) announced its partnership with Microsoft Corporation (NASDAQ:MSFT) in developing a new program to allow channel partners to capitalize on the $10 billion opportunity as customers transition from Windows Server 2003.
The HP Microsoft Windows Server 2003 Migration Program allows its channel partners to meet customer needs rapidly and safely with reduced risk and cost, increased return on investment and fast implementation.
“Together, HP and Microsoft offer a complete portfolio of channel-optimized IT solutions, services, training, financing and a seamless support experience to help partners drive growth and meet evolving customer needs as they transform their business environments,” according to the press statement of Hewlett-Packard Company (NYSE:HPQ).