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Breaking HP News: NCR's CEO To Be New Hewlett-Packard President & CEO
Mark Hurd Joins HP As New President & CEO From Friday

With a $2M signing bonus and a salary of $1.4M, the successor to Carly Fiorina as permanent CEO of HP is going from Friday to be Mark Hurd, the 48 year-old chief executive - until this week - of NCR.

These figures may not seem very great in comparison to the $21M taken away by Fiorina as part of her severance package, but they should provide a sufficiently attractive package for Hurd when combined with the various other allowances and stock options that inevitably accompany a CEO mega-appointment at this level.

A 25-year veteran of NCR, Hurd is due to meet with reporters this morning. HP chairman Patricia Dunn praised Hurd's "proven ability to lead top-performing teams and his track record in driving shareholder value."

Hurd is the author, with NCR board member Lars Nyberg, of  The Value Factor: How Global Leaders Use Information for Growth and Competitive Advantage.

 

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Reader Feedback: Page 1 of 1

Hopefully he'll do a better job. This company used to be the holly grail, then she took over and I don't know of a single person at my entire site that likes their job...

I would have sold the stock if they hired someone for less than $10M! At that level, you need to put out the dough to get the right people to come.

This certainly does not guarantee a great result, but it is a start. When the announcement was made, HP capitalization went up $5.8 Billion. Twenty million is cheap!

Transcript of a CEO job interview:

Board: Mr. Hurd, Can you turn the mess we have here around?
Hurd: How much does it pay?
Board: Can you out Dell, Dell?
Hurd: How much does it pay?
Board: Can you out IBM, IBM?
Hurd: How much does it pay?
Board: Do you have the balls to get rid of the thousands of dead weight employees?
Hurd: How much does it pay?
Board: The pay is 20 million dollars.
Hurd: Sure I can. No problem. I'm going to need 2.5 million in relocation expenses as well.
Board: Great!! We are so excited to have you aboard. Don't worry about Job performance for at least three years we know it will take some time to turn this ship around.

So, will he be selling off Carly's company jets or not???

]]] Hurd is the author, with NCR board member Lars Nyberg, of The Value Factor: How Global Leaders Use Information for Growth and Competitive Advantage. [[[

Hurd and Nyberg list three strategies in that book for coping with recession, which is especially relevant for HP as the technology industry waits for clear signs of an overdue recovery:

" Trim non-critical costs and evaluate marginal businesses and relationships to eliminate the weakest. "Broad cost-cutting, as an end in itself, is at best a short-term response that can result in a hollowed-out company."

" "Protect and invest in the most valuable employees, the most productive customer relationships and industry innovations."

" Set a vision and make sure that every employee has the tools to implement it.

That philosophy does indeed seem like a recipe for financial success, although possibly not for warm and fuzzy feelings around the office.

And how long till the job cuts begin?




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