Maybe HP should create a new reality show and the winner would become CEO.

Olav.

Denys Beauchemin wrote:

>You bring up a good point John, however I don't think it's an issue.  The
>BOD should be closely involved with the selection process.  What would
>happen is that the outside firm would interview each director, (or perhaps
>as a group) to find out what the BOD is looking for in a CEO.  The firm
>would also interview various people (probably at a very high level) within
>HP, to get a feel for the environment and the reporting structure.
>
>Next, the BOD would probably provide names of various people they may have
>in mind and direct the firm to either contact them directly or find out if
>they can be contacted.
>
>The firm would then start their process of contacting the various people
>that were mentioned by the BOD and also start putting together a list of
>other potential candidates.  They would probably be reporting on a continual
>basis to the BOD and getting feedback.
>
>The firm serves as an insulation layer between HP and prospective
>candidates, it's just not something that can be done by the company itself.
>
>In this day and age of increased accountability for boards, I am quite
>certain the entire BOD is involved in the selection process, with perhaps
>one or two members acting as contacts with the firm.  If some of the members
>are not participating, they should seriously consider their continued
>presence on the board.
>
>As for the $21 million or $42 million severance for Carly, I am actually
>surprised it was that small.  I would have expected a much larger
>settlement.  You can be sure the next CEO will have that written prominently
>in his or her contract.  From what I can tell and what I have read, Carly
>did everything the board asked her to do; she just didn't cut deep enough
>and fast enough.  What may be coming next will make HP employees yearn for
>the good old days of Carly.
>
>I was also amused by some of the posts hoping to get Walter Hewlett back on
>the board.  Everyone seems to forget that after he agreed to the merger and
>voted for it, he then changed his mind publicly and was against it.  He also
>was of the opinion that HP should get rid of everything but the printers.
>
>Denys
>-----Original Message-----
>From: HP-3000 Systems Discussion [mailto:[log in to unmask]] On Behalf
>Of John Lee
>Sent: Friday, February 18, 2005 10:46 AM
>To: [log in to unmask]
>Subject: Re: [HP3000-L] HP's BOD
>
>And I contend that it is part of the problem that has become rampant at
>large companies.  An astute BOD, between them, should already know the
>short list of those capable and willing to lead your company.  I think they
>subcontract it out so they're not accountable for the decision...."well,
>she came highly recommended", or "we did our due diligence", etc.  I
>understand putting the word out that you're looking....but who in the
>business world doesn't know that HP is looking for a CEO???!!  Why spend
>millions to "come up with a list"?  The list should be knocking on your
>door.
>
>But it doesn't matter to me anymore...I got rid of my HP stock long ago,
>when they stopped innovating.  The problem at  HP and many other companies
>is at the BOD.  It's the leading indicator of a company's long-term return
>on investment.
>
>At 10:34 AM 2/18/05 -0600, Mark Landin wrote:
>
>
>>>This is part of the problem at HP.  If the Board isn't astute enough to
>>>choose a CEO, then just what is their role as members of the BOD?  When
>>>millions of dollars are casually thrown around, it's a bad sign.
>>>
>>>
>>Most large corporations use search firms to locate CEOs. The Board
>>typically interviews the "short list" candidates. It's nothing unusual
>>for HP to do the same.
>>
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>
>

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