HP Names New CEO and President
Mar 30, 2005
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Business appliance maker HP announced that its board of directors has named Mark Hurd to serve as the company's CEO and president.

Mr. Hurd has served since March 2003 as president and CEO of NCR Corp., where he has spent his 25-year career in a range of general management, operations, and sales and marketing positions. Prior to his current responsibilities, he was NCR's president and COO, responsible for driving the performance of the company's five business units. Previously, Mr. Hurd served 3 years as president and COO of the company's Teradata division, a leader in enterprise data warehousing, analytic applications, and data warehousing services.

Patricia Dunn, HP's non-executive chairman, said that the HP board unanimously selected Mr. Hurd based on his track record leading a complex organization, as well as his strong executive and personal qualities.

"Our search for a new leader to return HP to sustained success has been focused and thorough," said Ms. Dunn. "Mark came to our attention because of his strong execution skills, his proven ability to lead top performing teams, and his track record in driving shareholder value. He demonstrated these skills by turning around NCR, which, while smaller than HP, is a complex organization with multiple business segments."

Mr. Hurd will take up his new duties on April 1 and join HP's board. He succeeds Robert Wayman, a 36-year company veteran who has been chief financial officer since 1984 and was named interim CEO in February 2005. Mr. Wayman will remain CFO and continue to serve as a member of HP's board

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