Friction was apparent between Hewlett-Packard Co. Chief Executive Officer Meg Whitman and Autonomy Corp. founder Mike Lynch within weeks of their companies’ union, according to documents seen by Bloomberg News.
Hewlett-Packard Co. has begun talks with shareholders’ lawyers on a possible settlement of litigation over its $8.8 billion writedown of the Autonomy Corp. acquisition, a person familiar with the matter said.
Hewlett-Packard Co. Chief Executive Officer Meg Whitman, the company’s board and former CEO Leo Apotheker were sued by an investor alleging that mismanagement and botched acquisitions have destroyed shareholder value.
Hewlett-Packard Co. said accounting errors at Autonomy Corp. have led it to cut reported 2010 revenue at the software maker’s largest unit by 54 percent, adding fuel to a legal dispute over its purchase of Autonomy.
Hewlett-Packard Co. may reveal as early as today how it will fight shareholder claims it botched the Autonomy acquisition and will soon face demands that executives provide testimony, e-mails and documents as investor lawsuits over an $8.8 billion writedown of the deal reignite.
Hewlett-Packard Co. plans to renominate its slate of directors -- including activist investor and interim chairman Ralph Whitworth -- according to people with knowledge of the matter, seeking stability after years of board turnover.
Hewlett-Packard Co. appointed former SAP AG Chief Executive Officer Leo Apotheker as CEO and president, turning to an external candidate who resigned from his last job in February after sales and profit slumped.