New York to Vote Against Re-Election of Two HP Directors

New York City Pension Funds added pressure on Hewlett-Packard Co. to replace some directors, saying it will vote against the reappointment of John Hammergren and G. Kennedy Thompson for “failing to protect investors from costly, misguided acquisitions.”

As members of the board’s finance and investment committee, the two directors are responsible for “oversight failures,” which contributed to an $8.8 billion writedown in November related to the personal-computer maker’s purchase of Autonomy Corp. due to accounting improprieties, John Liu, New York City Comptroller, said in a statement yesterday.