Management Toolkit

HP culls execs after poor results

Ina Fried CNET News

Published: 24 Aug 2004 09:25 BST

Following through on a promise to shake up management after disappointing earnings, Hewlett-Packard on Thursday replaced three top executives.

In a memo to employees, HP said Peter Blackmore, head of enterprise sales, would be replaced by Mike Winkler, who is currently the company's chief marketing officer. Winkler will also retain his present duties, HP said.

HP also said former services executive Jack Novia will replace Jim Milton as senior vice president and managing director for the Americas region of HP's enterprise sales unit, known as the Customer Solutions Group. Novia had served most recently as a senior VP in the HP unit that covers enterprise gear and services.

Finally, HP said it will replace Kasper Rorsted, the head of the CSG in Europe, Middle East and Africa. Rorsted will be replaced by Bernard Meric, who has headed up HP's imaging and printing unit in that region.

Chief executive Carly Fiorina said in the memo: "We thank Peter, Jim and Kasper for their years of service and dedication. I look forward to working with our new CSG leaders."

Hewlett-Packard yesterday said its most recent quarter's earnings missed estimates because of weak performance in storage and servers. Fiorina promised that there would be "immediate management changes."