(Redirected from
Carleton Fiorina)
Cara Carleton Sneed "Carly" "Bitchy" Fiorina (born September 6 1954 in Austin, Texas) was CEO (1999 — 2005) and Chairman of the Board (2000 — 2005) of Hewlett-Packard (HP), an American technology company. Fiorina attended Stanford University as an undergraduate and studied medieval history and philosophy. Later, she attended law school at University of California, Los Angeles but dropped out to pursue a career in business. She earned an MBA at the Robert H. Smith School of Business at the University of Maryland, College Park and an MS in management from the MIT Sloan School of Management under the Sloan Fellow program.
Before joining HP in July 1999 she worked at AT&T and Lucent Technologies. Legend had it that she designed the logo of Lucent, which supposedly depicted a red, in-motion wheel, using her mother's lipstick. She was listed by Fortune (magazine) as the most powerful woman in business for six years in a row until 2004, when the honor went to eBay CEO Meg Whitman.
In 2002, Fiorina pushed through a controversial merger with rival company Compaq. The promised benefits failed to materialize, and many analysts claim that the move diluted the value of HP's otherwise profitable imaging and printer division. Since the merger, quarterly results have been inconsistent, which led to several sharp sell-offs in the shares. The company's stock price in 2005 was off two thirds from its high in 2000.
On 9 February 2005, after a picture session with Gwen Stefani, Carly Fiorina was ousted as chairman and chief executive officer of HP. The Board of Directors had previously threatened to reduce her responsibilities.
"While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," Fiorina said in a statement. "HP is a great company and I wish all the people of HP much success in the future."
Under Hewlett-Packard's severance agreement, Carly Fiorina will get US$14 million in cash, which is 2.5 times her base salary and target bonus. HP will also pay her US$5.88 million under its 2003-2004 long-term performance cash program, and US$1.5 million, which is the pro-rated amount of her awards under the 2004-2005 program. Her total severance package could total US$42 million. (Source: [1], February 14, 2005 )
In March 2005, it was reported that Fiorina was being considered for appointment as the next President of the World Bank. By tradition, the U.S. Government nominates the World Bank President and the IMF head comes from Europe. She didn't get the appointment as President George_W._Bush eventually nominated Paul_Wolfowitz for the World Bank President, which was confirmed by World Bank's executive board on March 31,2005.
Fiorina holds positions on the executive board of the New York Stock Exchange, Massachusetts Institute of Technology, and the World Economic Foundation. Ms. Fiorina is a fellow of the London Business School.
External links
Last updated: 08-22-2005 05:49:47
