HP board backs Compaq merger

The HP board have leapt to the defence of Carly Fiorina and the proposed HP/Compaq merger following recent criticism from William Hewlett and David Packard.

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By  Matthew Southwell Published  November 8, 2001

In response to William Hewlett and David Packard’s recent criticisms of the proposed merger between HP and Compaq, the formers board members – save Walter B himself – have collectively reaffirm their “enthusiastic support” for the $18 billion deal and CEO Carly Fiorina.

Dick Hackborn, former chairman and executive vice president of HP, explained that the deal was the “very best way to deliver the value our shareowners expect," while Fiorina’s leadership will ensure that HP continues to “be an innovation leader with a culture focused on trust, teamwork, accountability and contribution."

Equally as gushing was Sam Ginn, retired chairman of Vodafone AirTouch, who talked about ‘unleashing the value of the combined companies.’

"The merger strengthens the products, services and solutions the new HP will provide. The merger builds on the companies' complementary strengths in services and support around the world. I believe this merger will enhance our innovative capabilities and immediately improve the company's earnings power and competitive position," he said.

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