Outgoing HP Chairman Ray Lane Takes a Beating

Kevin Brown, the chief executive officer of storage company Coraid, remembers paying a lot of money to eat with Ray Lane, Hewlett-Packard’s (HPQ) newly departed chairman. More than 10 years ago, Brown bought a dinner at Lane’s house for $7,000 per couple at an American Cancer Society event. Upon arrival, Brown was a bit taken aback to find himself and other young couples seated at the kids’ table while Lane dined at another table with a prominent Silicon Valley CEO. Lane hadn’t realized that Brown and others had paid for the pleasure of being at his house. Once he did, Lane turned red, apologized, ran to the wine cellar, and “came back with his arms full of 1920s and 1961 Bordeaux, which was amazing,” Brown recalls.

This is more or less the version of Ray Lane that Hewlett-Packard hired as its chairman two years ago. It’s the portrait of Lane as the technology industry consigliere, who made a fortune running Oracle and then turned into a trusted adviser and confidant while working as a venture capitalist at Kleiner Perkins. People wanted to know Lane and pick his brain. And, if he liked your story, he’d introduce you to the right people and help you build a business.