HP Finance Chief Resigns

HP announced today that Bob Wayman, its CFO and
executive vice president, will resign from the company after 37 years.

Wayman, 61, who in 2005 served as interim CEO after Carly Fiorina resigned, also plans to resign from the board of directors at HP’s upcoming stockholders’ meeting in March, according to the announcement.

HP CEO Mark Hurd said Wayman “contributed greatly to HP’s success, and I am
particularly grateful for the counsel and support he gave me.”

HP treasurer Cathie Lesjak, 47, will replace Wayman on Dec. 31. “Cathie
Lesjak is a seasoned executive with an exemplary track record who knows HP
from the ground up,” Hurd said in a statement.

The announcement comes amid the controversy that erupted this year after the computer maker used pretexting to obtain the private phone numbers of HP board members in an attempt to learn the source of leaks to the news media.

And last week, HP paid $14.5 million to settle a
civil lawsuit related to the leak probe. HP’s internal
lawyer, Kevin Hunsaker, along with three private investigators who took
part were also indicted by the California AG.

While the settlement took care of any civil charges, HP’s former chairwoman Patricia Dunn still faces federal indictment over her involvement in the spying scandal.

Earlier this month, HP called “baseless” a lawsuit filed by shareholders which charged the company with insider
trading after Hurd and others sold stock on the day before the leak probe
became public.

But despite its legal troubles, HP still has friends on Wall Street.

November, HP marked its ninth straight quarter where it outperformed analyst expectations. HP forecasts next month sales will reach $24.1 billion to $24.3 billion, which is beyond the $23.9 billion analysts had expected.

HP recently announced new products, including blade
workstations and an energy-management system for cooling datacenters.

News Around the Web