Mark Hurd, the Ex-chief executive of Hewlett-Packard (NYSE:HPQ) might be sitting somewhere and laughing at the way things are happening at Hewlett-Packard (NYSE:HPQ) after he was forced to resign from the company in August 2010 under a cloud of HR shadiness.
Thanks to the management of Hewlett-Packard (NYSE:HPQ) and the board that saw it all the replacement of Mark Hurd and also 75% fall in share price of the silicon valley company. A few days after Mark Hurd had resigned his friend and soon to be CEO of Oracle Mr. Larry Ellison in a letter to the New York times said that “The H.P. The board just made the worst personnel decision since the idiots on the Apple Inc. (NASDAQ:AAPL) board fired Steve Jobs many years ago.” ,
Currently Hurd and Ellison both are in Oracle and they might just be laughing at the current state of Hewlett-Packard(NYSE:HPQ) with a cup of tea in their hands. Oracle’s market cap is six times more than the current worth of Hewlett-Packard(NYSE:HPQ).
On Tuesday Hewlett-Packard(NYSE:HPQ)’s council had announced in a press release that it would write off $8.8 billion which it had spent for buying U.K. software company. A deal which was approved by Hurd’s replacement Apotheker.
CEO Meg Whitman in an interview to CNBC said publicly that she regretted voting for the Autonomy deal during her term as a board member.
A lot of analysts have been of the view that Hewlett-Packard(NYSE:HPQ) as a Turnaround Supertanker who is tanking continuously.
The share price of Hewlett-Packard (US: HPQ) was at $12.44 up by 4.19% where as shares of Apple Inc. (NASDAQ:AAPL) were up by 0.08% to close at $571.98.