Boston, MA 04/09/2013 (wallstreetpr) – The chief executive officer Meg Whitman of the popular personal computer manufacturing brand Hewlett-Packard Company (NYSE:HPQ) (Current $21.93, Down by 0.18%) is in the mood to use a new line of the servers so as to give a jump start of a multiyear turnaround of a company which has become the logo of the corporate mismanagement. This decision was taken after a shakeup of the board that the investors said was overdue. The chairman of the company Mr. Ray Lane is stepping down from his post and two other directors of the company are also resigning which was said by the Hewlett Packard the gone week. It may give the 74 years old computer making company a chance so as to rebound from a three year stretch of the falling sales, management turmoil’s as well as the strategy shifts. It is in the news that the Director Ralph Whitworth of the Relational investors LLC will be the new interim chairman while within the time being the directors are looking for someone with energy, ability and time so as to lead the board and keep the revival efforts on the track which was being said by the company.
A part of the campaign is a Moon shot, which is a powerful and an energy-sipping computer which was released today which is being designed so as to succeed a place in the data centers which could help in powering the world’s largest websites. On the heels of the revamp of the second board since the early 2011, Whitman needs a product which should turn to a hit so as to convince the investors that the company Hewlwtt Packard can deliver a high margin technology so as to make up for a weakening printer business and also diminishing the demand for the personal computers. A portfolio manager, Lawrence Haverty at the Rye, New York based Gamco investors Inc (NYSE:GBL) (Current $51.69, down by 0.60%) said in an interview on the surveillance of the Bloomberg television, that they are still in the technology of the day before. H also said that “It is really very hard hand for them to be dealt with”.
The share prices of the Hewlett-Packard Company (NYSE:HPQ) fell around less than 1 percent to about 21.93 dollars at the close in the city of New York. The stock has really rallied to about 54 percent this financial year as compared to the 9.6 percent gain for the standard and the poor’s 500 Index. In the blog of the Whitworth it was clearly said that the Investors showed too much dismay with the past Hewlett Packard moves, including the acquisition of the U.K. software maker Autonomy Corp., by reelecting Lane and the directors such as G.Kennedy Thompson and John Hammergreen by the slim majorities in the month of March. “Further evolution” of the board of the Hewlett Packard is coming, whitworth whose hedge fund owns to about 800 million dollars in the share of the Hewlett Packard which he wrote in a blog posting which was dated on April 4. He also said that he supports Whitman and all her staff’s effort so as to revive the company.
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