Ray Lane, Hewlett-Packard, and the State of Corporate GovernanceJeffrey Pfeffer
With the resignation of two directors and Ray Lane’s relinquishing his role of board chairman, the turmoil at the top of Hewlett-Packard, a tale of almost soap opera proportions, continues. But HP’s story is scarcely unique. Many companies make unsuccessful acquisitions, boards continue to search for corporate saviors from the outside, and few directors suffer any consequences for overseeing catastrophic problems. All this provides evidence that corporate governance remains a problem in many publicly traded companies.
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