Carly Fiorina - The Change Leader
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Case Details:
Case Code : LDEN026
Case Length : 17 Pages
Period : 1999-2003
Pub Date : 2003
Teaching Note :Not Available
Organization : HP
Industry : IT & Computers
Countries : USA
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts Contd...
The HP-Compaq Merger
One of Fiorina's most significant moves was the decision to buy out one of HP's major competitors
- Compaq, in September 2001. The deal involved HP buying Compaq for $25 billion in stock (the final cost for HP was $19 billion)...
The Criticism
Fiorina's measures to revive HP led to a lot of criticism from HP employees as well as independent analysts. A majority of employees felt that though change was necessary, their morale suffered badly. According to a senior employee,
"Morale is as low as it has been in a long time. The President/CEO tried to change too much too fast. In such a case, the organization doesn't know what to do and flounders."...
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Fiorina's Leadership Style
Fiorina was a straightforward, articulate and market-focused manager. She was appreciated for her willingness and ability to take on challenges. She was quite successful in spinning off Lucent Technologies. Her capacity for hard work, gut instinct and her ability to build and motivate a team were her major assets as a corporate leader...
The Challenges Ahead
After a lackluster performance in 2002, the first quarter of the fiscal 2003 brought good news for Fiorina and HP (Refer Exhibit VII). In spite of the continued slowdown in the IT industry, Fiorina managed to keep four out of HP's five business segments profitable (Refer Exhibit VIII)...
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Exhibits
Exhibit I: HP's Consolidated Statements of Operations (1998-2002)
Exhibit II: The Hp Way - HP's Organizational Values
Exhibit III: Rules of the Garage (The Revised Hp Way)
Exhibit IV: HP-Compaq Merger Transaction Summary
Exhibit V: How the HP-Compaq Measured up Against Their Rivals in Different
Product Segments, at The Time of the Merger
Exhibit VI: HP's Stock Price Chart (1999-2003)
Exhibit VII: HP's Consolidated Statements of Operations (2003)
Exhibit VIII: HP's Segment Information (Nov. 2002 - July 2003)
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