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New in Stanford Closer Look series: \Leadership Challenges at Hewlett-Packard: Through the Looking Glass
By Professor David F. Larcker and researcher Brian Tayan, MBA 2003, Stanford Graduate School of Business, Corporate Governance Research Program
The board of directors has a long list of responsibilities in all areas of governance. However, to many, the fundamental obligations of the board are simple and distill down to two: 1) evaluate and approve the corporate strategy and 2) hire and fire the CEO. The Hewlett-Packard Company has had four leadership changes over the last twelve years. It has also faced numerous strategic changes, as well as controversies and challenges at the senior management and board levels.
We examine these issues and ask:
* Does the board of directors understand the skills and experiences needed to run the company?
* Have they settled on a corporate strategy?
* Why has the board repeatedly appointed an external, rather than internal, executive as CEO?
Read the Closer Look and let us know what you think!
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