HP’s hard-charging CEO and chairman is out. Carly Fiorina, one of the highest ranking female executives in the world was dismissed today by HP’s board of directors.
According to an AP report, board members said they fired Fiorina because she failed to execute a planned strategy of slashing costs and boosting revenue as quickly as directors had hoped.
CNN reports that Ms. Fiorina’s golden parachute is worth $21,000,000 so I guess I won’t be feeling too terribly sorry for her.
Fiorina was fired because she screwed up by merging HP with another down-at-the-heels computer company and it cost stockholders millions. The fact she was given $21,000,000 in severance for doing a terrible job that cost thousands of HP employees their jobs is ridiculous, and should lead to the ouster (and eventual lawsuits by said stockholders) of the entire board of directors, who not only hired this person but paid her outrageously for incompetent management.