HP's Carly Fiorina Steps Down

The board of directors of Hewlett-Packard Company announced that Carleton S. Fiorina has stepped down as chairman and CEO, effective immediately. Robert P. Wayman, HP's CFO, has been named in her place on an interim basis. He's also been appointed to the board of directors at HP. Patricia C. Dunn, an HP director since 1998, has been named non-executive chairman of the board, also effective immediately.

"Carly Fiorina came to HP to revitalize and reinvigorate the company. She had a strategic vision and put in place a plan that has given HP the capabilities to compete and win. We thank Carly for her significant leadership over the past six years as we look forward to accelerating execution of the company's strategy," says Dunn.

Fiorina issues the following statement: "While I regret the board and I have differences about how to execute HP's strategy, I respect their decision. HP is a great company and I wish all the people of HP much success in the future."