HP is in the spotlight again: this time its chairman and two board members have stepped down, under fire from investors.
Chairman Ray Lane has left his post with immediate effect, and the other two members have said they will resign in May.
Investors have been pushing for board-level change for some time, and the three directors barely kept their seats at the recent annual stockholder meeting.
At that meeting, just 59% of stockholders voted to retain Lane. The other two directors, John Hammergren and G Kennedy Thompson, fared worse with just 54% and 55% of the votes respectively.
The board was last restructured two years ago when CEO Mark Hurd resigned. He was replaced by Leo Apotheker, who was replaced by Meg Whitman just nine months later.
Chairman Ray Lane has left his post with immediate effect, and the other two members have said they will resign in May.
Investors have been pushing for board-level change for some time, and the three directors barely kept their seats at the recent annual stockholder meeting.
At that meeting, just 59% of stockholders voted to retain Lane. The other two directors, John Hammergren and G Kennedy Thompson, fared worse with just 54% and 55% of the votes respectively.
The board was last restructured two years ago when CEO Mark Hurd resigned. He was replaced by Leo Apotheker, who was replaced by Meg Whitman just nine months later.