Speaking to the Wall Street Journal in an interview published today, William Patterson, executive director of CtW Investment Group, a major shareholder HP, said that he and his followers will lead a charge to eliminate Lane and two of his colleagues board members, John Hammergren and G. Kennedy Thompson at the annual meeting of the company on March 20.
That is, Patterson told the Journal, unless HP decides to change himself "management board and its key committees." According to the Journal, Lane reported meeting with investors his company aims high to hear complaints of his critics and try to calm the unrest. Sources tell the Journal that the vote to remove Lane and other Board will be doomed to failure, but it is taken seriously, anyway. In a statement to the Journal, HP has only said that it looks "forward to discuss the concerns of this particular group of investors might have."
HP has not had the best go at it in recent years. Bureau CEO of the company has been a revolving door, with a current CEO Meg Whitman finally provide some much needed consistency to the management team. The company has always, however, face difficulty in competing in the mobile space and watched as Lenovo continued its impressive growth. HP 11 billion purchase of Autonomy software company was also criticized by investors HP. And now they want answers.
We do not know what the future holds for HP edge. However, in an interview with the newspaper, Anne Sheehan Retirement System Teachers California State ", which also has a cargo of the company's shares, said HP is" looking for new board members. '
CNET contacted HP for comment on the report of the Review. We will update this story when we have more information.
