One Huge Investor Is Happy That Two HP Board Members Are Gone
The resignations of John Hammergren and G. Kennedy Thompson were not a surprise.
Angry investors were calling for their heads at HP's annual shareholder meeting last month. They barely got enough votes to keep their jobs then.
Shareholders were upset over more than $16 billion dollars worth of write-downs, plus the discovery of $5 billion worth of alleged fraud on Autonomy's books after the company paid $11 billion to acquire it.
After hearing the news today, New York City Comptroller John Liu issued a public "Hallelujah."
Liu was one of the investors who voted against Hammergren and Thompson. He sent this statement to Business Insider:
“HP’s board got the message,” Comptroller Liu said. “It has removed the two directors most responsible for a series of value-destroying oversight failures, and established fresh, independent leadership. This a good day for HP, its board, and its shareowners.”
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