HP CEO Apotheker overcomes board controversy

Shareholders reelect all 13 members to the board, ending controversy around Apotheker's role in identifying director nominees

Hewlett-Packard shareholders on Wednesday reelected all 13 directors to serve on the company's board for the next year, ending controversy surrounding CEO Leo Apotheker's alleged role in identifying potential nominees.

On March 2, Institutional Shareholder Services, a shareholder advisory firm, said that Apotheker broke internal company policy by being directly involved in the selection process of new directors to the company's board. Apotheker's alleged involvement was against HP's governance guidelines as the charter calls for the process to be conducted by independent directors only.

According to preliminary results at the annual shareholder meeting held in Arlington, Virginia, HP shareholders reelected nominees Lawrence Babbio, who has been a director since 2002, and Sari Baldauf and G. Kennedy Thompson, who have been board members since 2006. ISS advised shareholders to vote against the three nominees, saying they failed to enforce the company's guidelines for identifying potential board member candidates.

HP's board over the past year was criticized over the resignation of former CEO Mark Hurd in August amid sexual harassment allegations and subsequently over the appointment of Apotheker, who was previously CEO of SAP, which was sued by Oracle for intellectual property theft by a former SAP subsidiary.

After Hurd's resignation, HP added five new members to the board of directors: Shumeet Banerji, CEO of Booz & Co.; Gary Reiner, former CIO of General Electric; Patricia Russo, former CEO of Alcatel-Lucent; Dominique Senequier, CEO of AXA Private Equity; and Meg Whitman, former president and CEO of eBay.

ISS said that at least four of the five director nominees had connections with Apotheker. ISS said Senequier was a Schneider Electric board member along with Apotheker, and three other nominees have been customers of SAP.

HP previously said that ISS misrepresented the process for electing board members.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesHewlett-Packard

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Agam Shah

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Bitdefender 2019

Bitdefender solutions stop attacks before they even begin! Get cybersecurity that 500 MILLION users already have and trust.

Most Popular Reviews

Latest Articles


PCW Evaluation Team

Luke Hill


I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?