| By Maureen O'Gara | Article Rating: |
|
| March 22, 2013 07:00 AM EDT | Reads: |
2,452 |
HP's board survived the annual shareholders meeting intact despite attempts to unseat chairman Ray Lane and four other directors for failing to vet HP's $11 billion acquisition of Autonomy, which resulted in an $8.8 billion write-off a few months later.
They were opposed by two shareholder advisory firms and some of HP's bigger institutional investors.
Those targeted like Lane, John Hammergren, head of the board's finance committee and G. Kennedy Thompson, head of its audit committee, only squeaked by with little more than the minimum 50% of the vote.

Lane got 58.9%, Hamnmergren 53.9% and Thompson 55.2%.
According to Business Insider "This is highly unusual. At annual stock meetings, stockholders usually vote in board members with very high majorities, often over 90%. An 80%-range vote is considered a condemnation."
HP CEO Meg Whitman, by way of example, got about 98% of the vote.
The others targeted for dismissal included Marc Andreessen - who like Lane pushed for the acquisition. He got 69.8%. Lead independent director Rajiv Gupta got 80.3%.
Activist board member Ralph Whitman, who owns $800 million worth of HP stock, while praising the board hinted at changes coming. "All boards should evolve," he said "certainly when they've had the recent past this one does. You can expect some evolution of the board over the coming years - months maybe."
Published March 22, 2013 Reads 2,452
Copyright © 2013 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.
More Stories By Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara
- Cloud People: A Who's Who of Cloud Computing
- Cloud Expo New York Speaker Profile: Dave Linthicum – Cloud Technology Partners
- Cloud Expo New York: Cloud Is Changing the Economics of Business
- Best CIO Practices Shared from SHI’s Customers
- Big Data Isn’t About the Database, It’s About the Application
- Cloud Expo New York: Rethink IT and Reinvent Business with IBM SmartCloud
- Cloud Expo New York: API Security, Does My Business Need an OAuth Server?
- Session Topics: 12th Cloud Expo / Cloud Expo New York
- Cloud Expo New York: Developing the World’s First IaaS Marketplace
- Cloud Expo NY: Best Practices for Delivering Oracle Database as a Service
- BEA Updates WebLogic SOA Portal for Web 2.0 Era
- UNIT4 Business Software: Three Retail Accounting Tips to Help Retailers Leverage the Cloud and Back Office Systems
- Cloud People: A Who's Who of Cloud Computing
- Cloud Expo New York Speaker Profile: Dave Linthicum – Cloud Technology Partners
- Cloud Expo New York: Cloud Is Changing the Economics of Business
- Best CIO Practices Shared from SHI’s Customers
- Cloud Expo New York: Deploying Hybrid Cloud for Performance and Uptime
- Big Data Isn’t About the Database, It’s About the Application
- Cloud Expo New York: Delivering Digital Marketing on the Cloud
- Cloud Expo New York: Rethink IT and Reinvent Business with IBM SmartCloud
- Cloud Expo New York: API Security, Does My Business Need an OAuth Server?
- Cloudant to Exhibit at Cloud Expo & Big Data Expo New York
- Cloud Expo New York: Basics of SSD Technology and Its Use in Cloud
- Session Topics: 12th Cloud Expo / Cloud Expo New York
- The i-Technology Right Stuff
- The Top 150 Players in Cloud Computing
- Who Are The All-Time Heroes of i-Technology?
- Where Are RIA Technologies Headed in 2008?
- Get the Message
- i-Technology Viewpoint: Is Web 2.0 the Global SOA?
- ESB Myth Busters: 10 Enterprise Service Bus Myths Debunked
- i-Technology Viewpoint: Thinking Outside the VC Box
- i-Technology Viewpoint: When to Leave Your First IT Job
- SOA Web Services Edge Conference Coverage on SYS-CON.TV
- SYS-CON.TV's "SOA Web Services" and "Enterprise Open Source" Programs To Air in December
- Five Reasons Why Web 2.0 Matters
























