Hewlett-Packard Co. , the largest maker of computers, announced a board shake-up aimed at adding foreign-based directors and quelling criticism over the way it handled the departure of Chief Executive Officer Mark Hurd .
Hewlett-Packard Co. recruited five executives to its board who have business ties to Chief Executive Officer Leo Apotheker and will need to prove they can act independently, corporate governance experts said.
By David Welch April 29 (Bloomberg BusinessWeek) -- The 15 General Motors dealers who flew to Detroit last September for a dinner with GM management were not an easily rattled bunch. They had endured the worst auto sales slide in 25 years, as well as the bankruptcy of the iconic carmaker on which they had built their businesses. Only three months had passed since GM accepted a $50 billion federal bailout, announcing the retirement of four of its eight brands and the shutting down of 1,900 dealers—a third of its domestic retail network. These dealers were the survivors, some of the more prosperous people in their towns, and they wanted a little reassurance. CEO Fritz Henderson gathered the group in a private conference room at the Westin Detroit Metro Airport and tried to demonstrate that he had a plan, according to an executive in the room who asked not to be named because he was not authorized to describe the dinner. Henderson announced that GM was going on the
Alcatel-Lucent SA Chief Executive Officer Ben Verwaayen will step down after 4 1/2 years of efforts to turn around the phone-equipment maker failed to stem a slump in cash reserves and withstand global competition.