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Ex-Barclays Global Investors CEO to chair HP

US – Former Barclays Global Investors chief executive Patricia Dunn has been named chairman of computer firm Hewlett-Packard in the wake of the departure of HP’s CEO Carly Fiorina.

Dunn was CEO at BGI, the world’ largest institutional money manager, from 1995 to 2002 before stepping down due to ill health. She was replaced by co-CEOs Blake Grossman and Andrew Skirton but remained vice chairman.

HP announced today that Fiorina, one of the most prominent businesswomen in the US, had stepped down due to differences over strategy.

Chief financial officer Robert Wayman was named interim CEO while Dunn, a director since 1998, was named non-executive chairman.

"Carly Fiorina came to HP to revitalize and reinvigorate the company. She had a strategic vision and put in place a plan that has given HP the capabilities to compete and win,” Dunn said.

“We thank Carly for her significant leadership over the past six years as we look forward to accelerating execution of the company's strategy.”

"While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," said Fiorina. "HP is a great company and I wish all the people of HP much success in the future."

The board will begin a search for a new CEO immediately.

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