Carly Fiorina

Chairwoman, chief executive officer, and president, Hewlett-Packard Company

Nationality: American.

Born: September 6, 1954, in Austin, Texas.

Education: Stanford University, BA, 1976; Robert H. Smith School of Business at University of Maryland, College Park, MBA, 1980; Sloan School of Business at Massachusetts Institute of Technology, MS.

Family: Daughter of Joseph (a law professor and judge) and Madeline (a painter; maiden name unknown) Sneed; married Frank Fiorina (a former AT&T executive), 1985; children: two stepchildren.

Career: AT&T, 1980–1989, for Long Lines, sales representative, then various senior leadership positions, then executive vice president, then CEO; 1989–1992, head of North American operations for Network Systems; 1992–1998, officer in Network Systems, then executive vice president for corporate operations; Lucent Technologies, 1998–1999, president of Global Service Provider Business, then president of Consumer Products; Hewlett-Packard Company, 1999–2000, CEO and president; 2000–, chairwoman, CEO, and president.

Awards: America's Most Powerful People, Forbes; Most Powerful Woman in American Business, Fortune, 1999; Honorary Fellow, London Business School, 2001; Top 25 Executives, CRN, 2002; Appeal of Conscience Award, 2002; Seeds of Hope Award, Concern International, 2003; Leadership Award, Private Sector Council, 2004; Alliance Medal of Honor, Electronics Industries, 2004.

Address: Hewlett-Packard Company, 3000 Hanover Street, Palo Alto, California 94304-1185; http://www.hp.com.

Carleton S. Fiorina, well known as Carly, made her mark as the chairwoman, chief executive officer, and president of the prestigious technology and computer-peripherals company Hewlett-Packard (HP). The first woman to head a Dow 30 company, Fiorina arrived at HP in 1999 to become the first outsider to fill a lead executive position in the company's 60-year history. Time magazine declared her "best line" to be, "My gender is interesting but really not the subject of the story here" (http://www.time.com/time/digital/digital50/17.html). Once she signed on as CEO, her challenge was to maintain HP's image as a reliable American engineering company and to propel the company into an age dominated by the Internet—a challenge that she would face with success. She recrafted HP's image from that of a mere printer manufacturer into that of a provider of a comprehensive lineup of Internet products. She overcame formidable obstacles in venturing to merge HP with Compaq Computer Corporation, weathering the public-relations storm and managing to heighten HP's standing in the technology industry.

Just What Hp Needed?

During her time as a student at Stanford University, Fiorina worked as a secretary typing bills of laden for Hewlett-Packard's shipping department. After graduating from Stanford with a degree in medieval history and philosophy, Fiorina attended law school for a semester while holding a variety of odd jobs. Before long she left law school and found her comfort zone in corporate America; she would spend 20 years at AT&T and Lucent before returning to HP to become the CEO.

During the process of consideration for the position of CEO at Hewlett-Packard, the company's leadership team was especially impressed by Fiorina's achievements at Lucent, AT&T's communications-equipment spin-off. At Lucent she launched a $90 million brand-building campaign that transformed and modernized the company. As group president of Lucent's Global Service Provider business she was responsible for over 60 percent of Lucent's revenue, providing systems for network operators and service providers; she increased the company's growth rate, international revenues, and market share. She built up a reputation for taking risks and assuming leadership of unpleasant but potentially fruitful projects. HP also evidenced interest in Fiorina's ability to implement sweeping corporate changes while still paying close attention to quarterly earnings.

Fiorina was committed to product innovation and the ongoing improvement of technology systems at HP. She consistently sought out ways to improve HP's image and its ability to deliver high-tech products to consumers. During slow periods she looked to consumer markets, as opposed to business markets, for growth, seeking to increase consumer awareness and use of HP networking, storage, software, computers, and printing products.

Prior to Fiorina's taking the helm, Hewlett-Packard had developed a reputation as a reliable but stodgy company; the new CEO was widely touted as just the fresh face to revamp that tired image. When she arrived in 1999, the company had 87 different product divisions, each with its own CIO and system of production. The company bureaucracy was overwhelming, and managers were sometimes required to clear their decisions with dozens of executives. During her first few months at HP, Fiorina worked to streamline the company's modes of communication and systems of production. She conducted a systematic review of the company's business units, trimming superfluous products and personnel in the process. Through her initial reorganization of the 60-year-old company Fiorina whittled the number of divisions down to 12.

The Compaq Controversy

Fiorina faced a period of backlash, however, soon after the novelty of her appointment had faded. Less than two years into her term at HP, company profits slumped 89 percent during the big technology dip in 2001, prompting a period of sharp criticism of her leadership. Subsequently, after guiding the $13 billion spinoff of Agilent Technologies, in early 2002 Fiorina initiated plans for a controversial $18 billion merger with the personal-computing giant Compaq Computer Corporation. The goal of the merger was to solidify HP's position as a leading provider of computing and imaging services. The move would be the largest in information-technology history and was initially viewed with deep skepticism.

The potential unification with Compaq sparked very public resistance: Fiorina had to convince government regulators in both Europe and the United States that the move was not anticompetitive. Possible workforce reduction was a bone of contention for both shareholders and employees. The most prominent reason for trouble was the opposition put forth by the families of the company founders. Within HP Fiorina faced an organized no-vote movement—led by Walter Hewlett—while working to narrowly gain stockholder approval for the purchase; she also faced a court challenge from Hewlett, who claimed that she had bought votes from stockholders. Media and employees eagerly followed the courtroom drama, and for a time Fiorina's previously winning image was tarnished. She allowed the arguments to play out and adhered to her original plan, adamantly insisting that a buyout of Compaq would be the best decision for Hewlett-Packard. Fiorina managed to override Hewlett's complaints in court and came out on top; the merger was completed in May 2002.

Later in 2003 Fiorina made a statement in the San Jose Mercury News in reference to the merger offering a glimpse of her management style: "You cannot manage a company by the daily stock price. You cannot manage a company by the conventional wisdom. Leadership by definition means you are out in front" (April 13, 2003). She acknowledged that HP's stock prices dropped after the merger but looked back and remembered, "People increasingly understand that the technology industry was consolidating. Our choice was do we lead it or follow it. We chose to lead it" (April 13, 2003).

Creating New Public and Private Leaders

Fiorina noted that among her responsibilities as a leader, she dared to redefine the role of the company, openly vowing to use its profits to benefit communities in need around the world. This approach of redefinition extended to her perception of her company's role in society. Fiorina was recognized and known for her commitment to the use of business in furthering citizenship and human rights around the world.

Fiorina emphasized that leaders in science and technology had the responsibility to participate in public discourse on social issues in both the private and public sectors. In her 2004 commencement address to the California Institute of Technology she told the audience, "The people most responsible for making change—the scientists and technologists—don't have a voice, because they have chosen not to represent their views in a public forum" (June 11, 2004). As an example she noted, "The Silicon Valley of the 20th century has given way to the scientific canyon of the 21st century, with scientists on one side, the general public on the other, and too few guides who can help bring us safely across from one side to the other" (June 11, 2004).

She promoted this view of scientists as guides and as leaders in a speech to the Electronic Industries Alliance, telling policy-makers in D.C., "Use us more" (May 25, 2004). She exemplified her call for cooperation through her advisorship to the U.S. Space Commission and in her work with the secretary of the Department of Homeland Security Tom Ridge, who turned to her for help in managing the technological challenges faced by that department.

Under Fiorina HP was a leader in "corporate citizenship" and created educational initiatives around the world. In accepting the "Seeds of Hope" award from Concern International, she declared, "Contribution to community has always been one of our corporate values" (November 4, 2003). Through Concern International HP worked with underprivileged groups needing assistance striving to improve their social situations through the use of technology. Local citizens created their own microbusinesses and, with the help of technological equipment provided by HP, made strides in communication, energy use, and other areas.

In a region of India with infrequent, sporadic electricity HP provided solar-powered digital cameras and printers to help citizens start up their own businesses. HP also provided help in southern India for 320,000 people across five rural villages; the company's goal was to transform the region into a self-sustaining economic community in terms of literacy, employment, and income, with improved access to government, education, and healthcare services.

In October 2003 HP presented a $10 million Technology for Teaching grant to schools in the United States, from kindergarten through the university level. The grant followed $3.3 million in previous HP technology grants that were provided to 20 American universities that same year. As reported by PR Newswire, the Concern International chief executive Tom Arnold noted, "It is important to recognize corporate leaders like Carly Fiorina who have demonstrated extraordinary leadership on issues of corporate and social responsibility. Ms. Fiorina puts her words into action, forming partnerships with the international humanitarian community" (November 6, 2003).

Fiorina, who traveled extensively to Native American reservations during her time at AT&T, led an effort to digitally wire reservations in Southern California as a way of increasing communication among tribal entities and fostering a shared understanding of their heritage and history. Fiorina and HP also worked with UNESCO to modernize computer systems in universities in Eastern Europe.

Fiorina spoke extensively on these broader topics of leadership at conferences, forums, and other gatherings. Fiorina once addressed a number of women business owners assembled by the U.S. Small Business Administration along with U.S. president George W. Bush. She was called on regularly to offer remarks on information technology and digital media.

A Way With People

Fiorina inspired admiration and loyalty both within and without her company. BusinessWeek dubbed her as bearing a "silver tongue and an iron will" and highlighted her ability to connect with employees: "As a leader, she has a personal touch that inspires intense loyalty" (August 2, 1999). She sent balloons and flowers to employees when they landed big contracts. She also brought an understanding of people to the organization; she explained to Working Knowledge, a publication of Harvard Business School, "Business is about more than facts. It's also about powerful emotions and how people react to them" (March 17, 2003). She summed up her style of managing human beings in BusinessWeek: "First, you reinforce the things that work. Then, you appeal to their brains to address what doesn't" (August 2, 1999).

Her marketing and sales techniques were as calculated and successful as her approach to managing technology systems. BusinessWeek noted that "her coddling of customers at Lucent was legendary" (August 2, 1999). Later the publication complimented her "marketing savvy, energy, and single-minded conviction" and called her the "most-watched woman in business" (May 29, 2003).

Tech Savvy

Fiorina's success was of course also largely based on her ability to master advanced ideas in technology. In another interview with BusinessWeek Fiorina explained how product innovation was a systems approach rather than a process of creating one product at a time. Such an approach flavored her leadership at HP. She noted, "Technology isn't a silver bullet. The innovation that is going to be most important is the kind that weaves systems and networks together. Security, mobility, rich media would be examples. These require systems approaches. They also require scope and scale, which is why we have been so convinced that the industry will consolidate into fewer, bigger players" (August 25, 2003).

A Model Woman

Part of Fiorina's celebrity and appeal, in addition to her aggressive leadership at HP, was the example she set as a female CEO of a prestigious company. In her contribution to the mentoring book Hard Won Wisdom, Fiorina shared her views on the importance of confidence in life and in business: "Having self-possession and self-awareness is important. No one learns who they are or what they are capable of without risk and without mistakes. In the end, you have got to be happy with who you are. You've got to be proud of who you are. You've got to like who you are" (2001).

Through 2004 Fiorina continued to integrate and organize her merged entities. By that time Hewlett-Packard was a $75 billion company with 140,000 employees in 176 countries, billing itself on the company Web site page entitled "Carly Fiorina: Chairman and Chief Executive Officer of HP" as a "leading global provider of computing and imaging solutions and services, which is focused on making technology and its benefits accessible to all." On the site's "Executive Team: Carly Fiorina" page, the company declared that Fiorina "led the reinvention of the company many associate with the birth of Silicon Valley."

Sources for Further Information

Anders, George, Perfect Enough: Carly Fiorina and the Reinvention of Hewlett-Packard, Portfolio, 2003.

Burrows, Peter, Backfire: Carly Fiorina's High-Stakes Battle for the Soul of Hewlett-Packard, John Wiley & Sons, 2003.

Burrows, Peter, and Peter Elstrom, "HP's Carly Fiorina: The Boss," BusinessWeek Online, August 2, 1999, http://www.businessweek.com/1999/99_31/b3640001.htm.

"Carleton S. Fiorina," Forbes.com, http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=218157.

"Carly Fiorina: Chairman and Chief Executive Officer of HP," Hewlett-Packard, http://www.hp.be/aesummit/fiorina.html.

"Carly Fiorina: Makeup Artist," Time, "Digital 50" listings, http://www.time.com/time/digital/digital50/17.html.

"Concern Worldwide U.S. Presents 'Seeds of Hope' Award to HP's Carly Fiorina," PR Newswire, November 6, 2003, http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=SVBIZINK10.story&STORY=/www/story/11-05-2003/0002052003&EDATE=WED+Nov+05+2003percent2C+01percent3A25+PM.

"Executive Profiles: Carly Fiorina," CEO Central, http://www.surferess.com/CEO/html/carly_fiorina.html.

"Executive Team: Carly Fiorina," Hewlett-Packard, http://www.hp.com/hpinfo/execteam/bios/fiorina.html.

Fiorina, Carly, "Catching Up with Carly Fiorina," interview by Dean Takahasi and Vindu Goel in San Jose Mercury News, April 13, 2003, http://www.siliconvalley.com/mld/siliconvalley/5624255.htm.

——, Commencement Remarks, Massachusetts Institute of Technology, June 2, 2000, http://web.mit.edu/newsoffice/2000/fiorinaspeech.html.

——, Concern International's "Seeds of Hope" Award Reception, New York, N.Y., November 4, 2003, http://www.hp.com/hpinfo/execteam/speeches/fiorina/concern03.html.

——, "A Conversation with Carly Fiorina," Forbes Fifth Annual CIO Forum, Dallas, Tex., December 2, 2003, http://www.hp.com/hpinfo/execteam/speeches/fiorina/forbes04.html.

——, "Dare to Dream," Commencement Address, California Institute of Technology, Pasadena, Calif., June 11, 2004, http://www.hp.com/hpinfo/execteam/speeches/fiorina/caltech04.html.

——, "Speaking Out: Hewlett-Packard's Carly Fiorina," BusinessWeek Online, August 25, 2003, http://yahoo.businessweek.com/magazine/content/03_34/b3846632.htm.

——, "Use Us More," Electronic Industries Alliance Government and Industry Dinner, Washington, D.C., May 25, 2004, http://www.hp.com/hpinfo/execteam/speeches/fiorina/eia04.html.

Germer, Fawn, Hard Won Wisdom: 50 Extraordinary Women Mentor You to Find Self-Awareness, Perspective, and Balance, Perigee Books, 2001.

Lagace, Martha, "Carly Fiorina: Heed Your Internal Compass," Working Knowledge, March 17, 2003, http://www.hbsworkingknowledge.hbs.edu/pubitem.jhtml?id=3384&t=leadership.

Malone, Michael S., "Failure to Communicate? HP Chief Carly Fiorina Needs to Explain Compaq Merger," ABCNEWS.com, February 12, 2002, http://abcnews.go.com/sections/business/SiliconInsider/SiliconInsider_020212.html.

"Profile: HP's Carly Fiorina," BBC News, September 4, 2001, http://news.bbc.co.uk/1/hi/business/1524555.stm.

Tsao, Amy, and Jane Black, "Where Will Carly Fiorina Take HP?" BusinessWeek Online, May 29, 2003, http://www.businessweek.com/technology/content/may2003/tc20030529_9712_tc111.htm.

Zarley, Craig, "Carly Fiorina," CRN, November 12, 2002, http://www.crn.com/sections/special/top25/top25_02.jhtml?articleId=18822010&_requestid=331815.

—Alison Lake

Carly Fiorina (born 1954), chief executive officer of Hewlett - Packard Company (HP) before its board fired her early in 2005 amid a power struggle, was one of only three women to head a Fortune 500 company. She drew praise for her streamlining and cost - cutting at HP, and was criticized for some controversial business decisions, most notably a 2002 merger with Compaq Computer Corporation. Fiorina had been ranked number one on "Fortune" magazine's list of the 50 most powerful women in business in the United States six times.

Fiorina was born Cara Carleton Sneed on September 6, 1954, in Austin, Texas. Her father, Joseph Sneed, was a law professor who also served as a federal appeals judge and a deputy attorney general under President Richard Nixon; her mother, Madeline Sneed, was an abstract artist. Fiorina was named for several men on her father's side of the family named Carleton who had died in the Civil War. Fiorina's parents and other relatives decided that the boys named in their honor would be called Carleton, the girls Cara Carleton. Fiorina was raised primarily in the San Francisco Bay Area, although the family also lived in North Carolina, Texas, Connecticut, and New York, as well as Ghana and England, due to her father's career. Fiorina attended five high schools on three continents, influencing her ability to thrive in new situations, according to a 2002 interview in Fortune. "I learned that people are fundamentally the same wherever you go," she said. "Connecting, and always being the outsider, which I was, is about adapting."

Launched Lucent Technologies

After graduating from high school, Fiorina attended Stanford University in Palo Alto, California, where Hewlett - Packard is based. While a student there, she kept the books and answered phones at a hair salon and, coincidentally, worked for a time in HP's shipping department. Following her graduation from Stanford in 1976, she entered law school at the University of California, Los Angeles, but dropped out after only one semester. She worked a series of jobs over the next several years, including teaching English in Bologna, Italy. She became interested in business while working as a receptionist at a brokerage firm in New York, and enrolled in graduate school at the University of Maryland, College Park, where she received a master's degree in marketing.

Following graduate school, Fiorina entered a management training program at AT&T and stayed with the company after she finished it. Her duties there included overseeing a portion of the company's government contracts. Fiorina became involved in the sale of $25 billion in telecommunications equipment to the United States General Services Administration, establishing herself in handling large deals. Fiorina was promoted several times and became an executive in the network systems division, which handled the manufacturing of telephone equipment. She helped set up joint ventures with Asian companies and by 1990 became the first women to be appointed an officer in the division. She married fellow AT&T executive Frank Fiorina, who is now retired, in 1985, and earned a master's degree in business from the Sloan School of Management at the Massachusetts Institute of Technology. Fiorina helped raise her husband's children from another marriage; she was previously married as well.

By 1991, Fiorina had been named vice - president of network systems, and by 1995 she was running its North American sales division. In 1995, she headed AT&T's creation of a spinoff company, dictating strategy, managing the initial public offering, and developing a new name and corporate image. That company became Lucent Technologies, and Fiorina headed its global services provider division, which provided networking equipment to telecommunications companies and internet service providers. She became president of global services in 1998, and the division achieved $19 billion in revenues that year. Lucent became a well - known name in the field of telecommunications equipment manufacturing, and Fiorina was largely credited with the company's success. In 1998, she was named number one on Fortune magazine's inaugural list of the 50 most powerful women in American business, a ranking she would maintain annually until 2004. Fiorina bristled at the designation, according to a quote in a 2002 issue of Fortune. "Business shouldn't be like sports, separating the men from the women," she said.

Chosen to Head HP

In 1999, following an intensive search that involved lengthy interviews and a 900 - question psychological test, Fiorina was hired as the chief executive officer of the computer and imaging company Hewlett - Packard, becoming the first person from outside the company to take this position. Fiorina took on a bureaucracy - laden company whose corporate culture reflected the paternalistic vision of William Hewlett and David Packard, who founded the company in a Palo Alto garage in 1939. "People were so busy building consensus that things didn't get done," Quentin Hardy wrote in a 1999 issue of Forbes. "Under the David Packard approach, new product lines split off into autonomous units, and scores of disparate operations populated the four main businesses - ink - jetprinters, laser printers, servers, and PCs [personal computers]. HP wound up with multiple product logos and a hundred different brand names, such as OfficeJet, Pavilion, and Vectra. It ran a thousand different intranet training sites, 40 internal help desks and 34 unlinked customer databases."

Fiorina took a hard - edged approach to change, intimating that layoffs were eminent soon after taking charge. Responding to a rumor that up to 25 percent of HP staff might be dismissed, Fiorina responded, according to Forbes in 1999, "I'm not sure about that, but if one - quarter of the people in HP don't want to make the journey, or can't take the pace, that's the way it has to be." By 2001, Fiorina planned to lay off 3,000 managers and had replaced 30 percent of the company's highest - ranking employees. "People should depart with dignity, but don't confuse that with the departure being an inappropriate choice," she said, as quoted in a 2001 Forbes edition. She also issued an ultimatum to HP sales staff: if they could not produce, they, too, should leave. Fiorina tended to operations and sales as well. She consolidated several disparate units and masterminded a unified corporate identity, under a new, simplified "HP" logo. She negotiated exclusive purchasing agreements with Ford Motor Company and Delta Airlines. Later major clients included General Electric, the Walt Disney Company, and the United States Department of Homeland Security. Fiorina's charge - ahead tactics upset many on her team, however; Forbes in 2001 reported that a survey of 8,000 employees revealed widespread dissatisfaction, citing poor communication and inefficient implementation of changes.

In 2000, Fiorina attempted a buyout of the 31,000 - person consulting firm Pricewaterhouse Coopers, in an effort to boost HP's computer consulting arm. The deal fell through, however, after HP tried to lower its original $17.5 billion offer. "So instead of being a leading - edge services provider, this division still gets half its revenue from traditional product support, like fixing broken disk drives," Eric Nee wrote in Fortune. "Fiorina still hopes to build HP's rapidly growing consulting and outsourcing services . . . But without a major acquisition, HP will need to slogon for years before it can mount a serious challenge to IBM, the market leader."

Oversaw Compaq Merger

Fiorina made an even more controversial move in 2001, when she announced HP's plans to acquire Compaq. The sons of the company's founders, who sat on the company's board, opposed the $19 billion purchase but it narrowly passed, with 51 percent of the company's shareholders voting infavor of the deal. Walter Hewlett, son of founder William Hewlett, unsuccessfully sued Fiorina and HP, alleging manipulation in the vote.

While the merger signaled a victory for Fiorina, HP's performance in the wake of the deal was erratic. "HP shares are worth less today than on the day before the merger was announced or on the day it closed," the Economist said in 2004. "A consensus has emerged in the industry that the new HP, the tech industry's most sprawling conglomerate, has lost its focus and is being squeezed between two formidable rivals with much clearer business models, Dell and IBM." But even Fiorina's detractors would have trouble denying her work ethic, however. According to a 2002 issue of Fortune, her workdays typically began at 4:30 a.m. and ended at 10 p.m.

Ousted by HP's Board

The company doubled sales over five years, but its traditional printing business had still accounted for about 80 percent of the company's operating profits, mostly from selling replacement ink cartridges. Fiorina and HP's board, meanwhile, continued to battle over the direction of the company. "Several Wall Street analysts have called on HP to spin off its highly profitable printing business or sell its PC unit, arguing that the company was being squeezed between IBM's high - end services strategy and Dell's low - cost PC manufacturing," Scott Morrison wrote in the Financial Times.

On February 9, 2005, Hewlett - Packard's board fired her. Fiorina, Morrison wrote, "had drawn criticism for what was seen as an imperious leadership style." While she assembled a capable leadership team that was marketed better, according to Cliff Edwards of BusinessWeek, Fiorina had difficulty getting top executives to work together. "While I regret the board and I have differences about how to execute HP's strategy, I respect their decision," Fiorina said in a statement widely published in the media. She received a severance package estimated at $21 million.

In rise and fall, Fiorina made headlines. "If Carly Fiorina hadn't come along, the media would almost have had to invent her," Bruce Horovitz wrote in USA Today. "For years, the media and Fiorina danced a celebratory dance." That Fiorina was a female in the trendy, male - oriented, high - tech business, combined with her own public - relations savvy, intensified the media's fascination with her, Horovitz added.

Women executives saw one of their own in Fiorina. "She can go out and tell the story of what its like. We need to see other women in positions of success," Delia Clark, owner of Baroness Coffee in Denver, said at a conference of female business owners in that city, according to Kimberly S. Johnsonin the Denver Post. "CEOs climbing the ladder is one thing; surviving is another."

Books

Business Leader Profiles for Students, Vol. 2, Gale Group, 2002.

Periodicals

Economist, December 15, 2001; August 21, 2004.

Financial Times, February 10, 2005.

Forbes, December 13, 1999; June 11, 2001.

Fortune, July 23, 2001; November 18, 2002.

Time, December 2, 2002.

Online

"Carly Fiorina," Biography Resource Center Online,http://galenet.galegroups.com (December 1, 2004).

"Media Always Fascinated with Fiorina," USA Today, February 9, 2005, http://www.usatoday.com/money/industries/technology/2005-02-09-cool-carly - x.htm (February 10, 2005).

"Where Fiorina Went Wrong," BusinessWeek online, February 9, 2005, http://netscape.businessweek.com/technology/content/feb2005/tc2005029 - 1044 - tc024.htm (February10, 2005).

"Women Talk of Fiorina's Rise," Denver Post, February 10, 2005, http://www.denverpost.com/Stories/0,1413,36%257E33%257E2702736,00.html (February 10, 2005).

Carly Fiorina
Born	Cara Carleton Sneed September 6, 1954 (1954-09-06) (age 55) Austin, Texas
Education	Stanford University University of California, Los Angeles University of Maryland, College Park Massachusetts Institute of Technology
Occupation	Business Executive, Politician
Political party	Republican
Spouse(s)	Frank Fiorina (1985–present)
Website carlyfiorina.com

Carly Fiorina (born Cara Carleton Sneed on September 6, 1954) is an American businesswoman. Fiorina served as chief executive officer of Hewlett-Packard from 1999 to 2005 and previously was as an executive vice president at AT&T, where she coordinated the spinoff and initial public offering of Lucent.

Fiorina was considered one of the most powerful women in business during her tenure at Lucent and Hewlett-Packard. Hewlett-Packard spun off Agilent Technologies shortly after she joined the company in 1999. Under her leadership, in 2002, the company completed a contentious merger with rival computer company Compaq. In 2005, the Hewlett-Packard board forced Fiorina to resign.

In 2008, Fiorina served as a top economic advisor to Republican presidential candidate John McCain. She currently serves on the boards of several major business organzations. In November 2009, Fiorina announced she would seek the Republican nomination to challenge incumbent Democrat Barbara Boxer for the junior United States Senate seat representing California.^[1]

Contents 1 Early life and education 2 Career in business 2.1 AT&T and Lucent 2.2 Hewlett-Packard 2.3 After HP 3 Media career 4 Politics 4.1 Senate candidacy 5 Personal life 6 Books 6.1 Further reading 7 References 8 External links 8.1 Interviews and speeches

Early life and education

Cara Carleton Sneed was born in Austin, Texas to Joseph Tyree Sneed III, a law school professor and dean, and later federal judge, and Madelon Juergens Sneed, a portrait and abstract artist. She attended Charles E. Jordan High School in Durham, North Carolina for her senior year; the family frequently relocated during this time.

Fiorina received a Bachelor of Arts degree in philosophy and medieval history from Stanford University in 1976. She attended the UCLA School of Law but dropped out after one semester. Fiorina received a Master of Business Administration (MBA) in marketing from the Robert H. Smith School of Business at the University of Maryland, College Park in 1980. She received a Master of Science in management from the MIT Sloan School of Management under the Sloan Fellows program in 1989.

Career in business

Fiorina worked various secretarial and receptionist positions, including a stint at Hewlett-Packard as a temporary worker through Kelly Services. She later worked as a receptionist at real estate firm Marcus & Millichap (including working briefly as a broker). During her speech at the 2006 ICSC convention in Las Vegas, Fiorina noted that her time at Marcus & Millichap helped her learn how to navigate the business world. Fiorina taught English in Italy; her first husband's career had taken them to that country.

AT&T and Lucent

While rising up the corporate ladder, Fiorina overcame the business stereotype of the glass ceiling. She joined AT&T in 1980 as a management trainee and rose to become a senior vice president overseeing the company's hardware and systems division. In 1995, Fiorina led corporate operations for the spinoff from AT&T of Lucent, reporting to Lucent chief executive Henry B. Schacht;^[2] she played a key role in planning and implementing the 1996 initial public offering of stock and company launch strategy.^[3][4] Later in 1996, Fiorina was appointed president of Lucent's consumer products business, reporting to Rich McGinn, president and chief operating officer.^[5] In 1997, she was appointed chairman of Lucent's consumer communications joint venture with Philips consumer communications.^[6] Later that year, she was named group president for the global service provider business at Lucent, overseeing marketing and sales for the company's largest customer segment.^[7][8]

A year later, Fiorina was ranked as the most powerful woman in business by Fortune magazine. (The 1998 listing was the magazine's first ranking.) In 1998, Fortune magazine named her the "most powerful woman in business" in its inaugural listing, and she was included in the Time 100 in 2004 and remained in the Fortune listing throughout her tenure at HP, and was #10 on the Forbes Magazine's List of The World's 100 Most Powerful Women for 2004.^{[9][10][11][12][13][14][15]}

Hewlett-Packard

In July 1999, Hewlett-Packard Company named Fiorina chief executive officer succeeding Lewis Platt and prevailing over the internal candidate Ann Livermore.^[16] She became the first woman to lead a Fortune 20 company.^[17] Fiorina immediately became a highly visible chief executive, and remained so throughout her tenure at the company with a vast array of engineering talent at her disposal, headed up by Rajiv Gupta.

Fiorina proceeded to break up HP and merge the part she kept with the PC maker Compaq. Although the decision to spin-off the company's technical equipment division predated her arrival, one of her first major responsibilities as chief executive was overseeing the successful separation of the unit into the standalone Agilent Technologies. In 2000, Fiorina proposed the acquisition of computer-services business EDS, but withdrew the bid after the proposal received a poor reception from HP shareholders.^[18] While Fiorina's 2000 bid to acquire EDS was abandoned, HP did go on to purchase the company in 2008. In 2001, Fiorina was named one of the thirty most powerful women in America by Forbes magazine.^[19] In 2002, in the wake of the bursting of the Tech Bubble, Fiorina spearheaded a controversial merger with Compaq, a leading competitor in the industry. Fiorina fought for the merger, and it was implemented despite strong opposition from board member Walter Hewlett (the son of company co-founder William Hewlett) who claimed that the merger was being pursued by Fiorina in desperation to make a strategic decision and to give her some breathing space from Wall Street . He launched a proxy fight against Fiorina's efforts, but that failed.^[20][21] The Compaq merger created the world's largest personal computer manufacturer by units shipped^[22] for a time,^[23] a position the company regained shortly after Fiorina left the company^[24].

Fiorina presented herself as a realist as to the matter of the effects of globalization. She has been a strong proponent, along with other technology executives, of the expansion of the H-1B visa program.^[25] In January 2004, at a meeting to "head off rising protectionist sentiment in Congress," Fiorina said: "There is no job that is America's God-given right anymore. We have to compete for jobs as a nation."^[26][27][28] While Fiorina argued that the only way to "protect U.S. high-tech jobs over the long haul was to become more competitive [in the United States]," her comments prompted "strong reactions" from some technology workers who argued that lower wages overseas outside the United States encouraged the offshoring of American jobs.^[29] Fiorina responded against protectionism in an editorial in the Wall Street Journal, writing that while "America is the most innovative country," it would not remain so if the country were to "run away from the reality of the global economy."^[30]

Forina was forced out of HP in 2005 after its stock price had fallen in value by half. In early January 2005, the Hewlett-Packard board of directors discussed with Fiorina a list of issues that the board had regarding the company's performance.^[31] The board proposed a plan to shift her authority to HP division heads, which Fiorina resisted.^[32] A week after the meeting, the confidential plan was leaked to the Wall Street Journal.^[33] Less than a month later, board brought back in Tom Perkins and forced Fiorina to resign as chairman and chief executive officer of the company.^[34] The company's stock jumped on news of Fiorina's departure.^[35] Under the company's agreement with Fiorina, which was characterized as a golden parachute by some, she was paid slightly more than twenty million dollars in severance.^[36] When Fiorina became CEO in July, 1999, HP's stock price was $52 per share, and when she left 5 years later in February, 2005, it was $21 per share—a loss of over 60% of the stock's value.^[37] During this same time period, HP competitor Dell's stock price increased from $37 to $40 per share.^[38][39]

Fiorina was succeeded, on an interim basis, by Patty Dunn as chairman, and then-CFO Robert Wayman as acting chief executive. Before her departure, Fiorina had launched an intensive hunt for board room leaks, and one of the leakers later turned out to be George A. Keyworth, II. Dunn continued to investigate along these lines to determine which board member(s) has been leaking information to the media. The methods used by Dunn led to the HP spying scandal and she was soon succeeded by Mark Hurd.^[40][41]

Outside judgments on Fiorina's tenure at HP are mixed at best. In 2008, Infoworld grouped her with a list of products and ideas as flops, declaring her to be the "anti-Steve Jobs" as a destroyer of the goodwill of American engineers and as one who alienated existing customers.^[42] In 2008, Loren Steffy of the New York Times suggested that the EDS acquisition well after Fiorina's tenure was evidence that her actions as CEO were justified.^[18] In April 2009, the business magazine web site Condé Nast Portfolio listed Fiorina as one of the "The 20 Worst American CEOs of all time," characterizing the HP-Compaq merger as widely regarded as a failure, and citing the halving of HP's stock value under Fiorina's tenure.^[43][44]

After HP

After her ouster from HP, Fiorina was named to several board memberships. She was named to the boards of directors at Revolution Health Group and computer security company Cybertrust. The following year, she became a member of the board of directors for chip maker Taiwan Semiconductor Manufacturing Company.^[45][46][47] She joined the board of trustees of the Massachusetts Institute of Technology and the Foundation Board of the World Economic Forum. She is an Honorary Fellow of the London Business School.^{[48] [49][50] [51]}

Media career

Fiorina enjoyed tremendous media exposure before and during her tenure at HP, speaking at many business conferences and appearing on the cover of numerous business magazines and internationally on social magazines such as Aera. In the years since leaving HP, Fiorina has maintained her visibility in the media. In a commencement address in May 2005, Fiorina said about her tenure at Hewlett-Packard:

"The worst thing I could have imagined happened. I lost my job in the most public way possible, and the press had a field day with it all over the world. And guess what? I'm still here. I am at peace and my soul is intact."^[52]

During an interview with Charlie Rose, Fiorina said she believed that her leadership was strong during her tenure with Hewlett-Packard, and that the Compaq merger was a critical step for the company, although the merger was misunderstood by the board of directors.^[53] In October 2006, Fiorina released an autobiography, Tough Choices, about her career and her views on such issues as what constitutes a leader, how women can thrive in business, and the role technology will continue to play in reshaping the world. In the book, she singles out Cooltown with the line "I could hardly contain my delight and excitement at seeing Cool Town."^[54] Fiorina signed on with the Fox Business Network to become a business commentator on the network.^[55] She is Chairman and CEO of Carly Fiorina Enterprises where, according to her political campaign Facebook page, she is "bringing her unique perspective and experience to bear on the challenging issues of our world, championing economic growth and empowerment for a more prosperous and secure world."^[56] She has appeared at many public events. She rang the opening bell of the Wall Street stock market on the official day of the HP-Compaq merger and in 2000 she was the ceremonial host opening the largest EasyInternetcafé at Times Square and the opening of the Epcot ride Mission: SPACE.^[57] In 2004, Fiorina was a member of the President's Commission on Implementation of United States Space Exploration Policy, which produced a report for George W. Bush. She has appeared many times on network TV such as in 2007 on Real Time with Bill Maher.

Fiorina has and continues to be involved with many business leadership activities including:

• Leadership summits run by Bill Hybels^[58]
• Business Executives for National Security^[59]
• The Wall Street Journal's D Conference (All Things Digital) in Carlsbad, California^[60]
• Cyberposium^[61]
• Lead21^[62]
• Texas Conference for Women^[63]
• Texas Monthly Talks^[64]
• The Women's Conference^[65]
• Willow Creek Association^[66]
• Willow Creek Community Church^[67]

Politics

In 2008, Fiorina joined as a part of the Senator John McCain presidential campaign. In early 2008, Fiorina was referred to in media sources as a potential vice presidential candidate.^[68][69] On March 7, 2008, Fiorina was named fundraising chairman for the Republican National Committee's "Victory" initiative. She was also a "point person" for the McCain campaign on issues related to business and economic affairs.^[70] Fiorina's severance package from Hewlett-Packard in 2005, was viewed by some as a political liability during the campaign.^{[71] [72] [73]}

On September 3, 2008, Fiorina addressed the Republican National Convention. Earlier that day, she defended the selection of Sarah Palin as McCain's running mate and said that Palin was being subjected to sexist attacks, a charge she repeated a few days later in response to one of the Saturday Night Live parodies of Sarah Palin.^[74][75][76] In response to questions during a radio interview on September 15, 2008, she stated that Palin lacks the experience to run a major company like Hewlett-Packard, "[b]ut that's not what she's running for. Running a corporation is a different set of things." Fiorina later amended her comment, stating that none of the candidates on either ticket had the experience to run a major corporation.^[77][78][79] After media coverage of her comments, one of her scheduled appearances on behalf of the campaign was canceled, although Fiorina continued to chair the party's fundraising committee.^{[80][81][82][83][84]}

Senate candidacy

In February 2009, Fiorina spoke at the California State Republican Convention and on August 18, 2009, she announced that she had filed papers to form an exploratory committee to start exploring a candidacy for the position. On November 4, 2009, Fiorina formally announced her candidacy in the United States Senate election in California, 2010 in a bid to unseat incumbent Barbara Boxer.^{[85][86][87][88]} Fiorina's senate campaign has since been endorsed by John McCain.^[89]

Utilizing public records, the Los Angeles Times calculated that Fiorina had not voted in most elections. Fiorina responded: "I'm a lifelong registered Republican but I haven't always voted, and I will provide no excuse for it. You know, people die for the right to vote. And there are many, many Californians and Americans who exercise that civic duty on a regular basis. I didn't. Shame on me."^[90][91]

In a poll conducted by Field Research in October 2009, Fiorina narrowly led the Republican field with 21% versus 20% for her competitor, Chuck DeVore (with 59% still undecided), while in a general election matchup, incumbent Barbara Boxer led Fiorina 49% to 35%.^[92] A Rasumssen survey conducted during the same period found Boxer at 49%, leading Fiorina at 39%.^[93]

Personal life

Fiorina (then Cara Carleton Sneed) married Todd Bartlem, a Stanford classmate, in June 1977. She divorced him in 1984 over matters of money and for spending time away from her.^[94] The next year, she married AT&T executive Frank Fiorina. It was the second marriage for both. She helped to raise her two stepdaughters Traci and Lori Ann. They attempted to have children together but, as Fiorina puts it: "That wasn't God's plan."^[95][96][97] She currently lives in Los Altos Hills, California and has a home in Washington, D.C..

On February 20, 2009 Fiorina was diagnosed with breast cancer. She underwent surgery at Stanford Hospital on March 2, 2009 followed by chemotherapy, which caused her to lose her hair, and radiation therapy.^[98] She has been given "an excellent prognosis for a full recovery."^[99][100] Upon announcing her campaign for the U.S. Senate seat held by Barbara Boxer, Fiorina stated "I have to say that after chemotherapy, Barbara Boxer just isn't that scary anymore."^[101]

Books

• Fiorina, Carly. Tough Choices: A Memoir. Portfolio Hardcover, 2006. (hardcover: ISBN 1-59184-133-X, abridged audiobook: ISBN 0-14305-907-6)

Further reading

• Anders, George. Perfect Enough: Carly Fiorina and the Reinvention of Hewlett-Packard. New York: Penguin Group, 2003. ISBN 1-59184-003-1.
• Burrows, Peter. Backfire: Carly Fiorina's High-Stakes Battle for the Soul of Hewlett-Packard. Wiley, 2003. ISBN 0-47126-765-1.

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40. ^ Now, HP is a criminal case: California files charges against ex-chairman Dunn, 4 others involved in leak probe; CEO Hurd not named 2006-10-05
41. ^ Chairman, Director Resign In HP Scandal: Leaks Probe Advances in California 2006-09-13
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49. ^ TSMC’s Board of Directors
50. ^ Revolution Health's Board of directors
51. ^ National panelists
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56. ^ Facebook Info tab Retrieved 2009-10-03
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58. ^ Leadership Summit 2009 – Bill Hybels, Henry Cloud, Patrick Lencioni, Carly Fiorina, David Ireland: Hiring, Firing, and Board Meltdowns 2009-08-06
59. ^ Collaborating to succeed: Business Executives for National Security (BENS) October 20, 2004
60. ^ Fiorina at AllThingsD
61. ^ Eleventh Annual Cyberposium at Harvard Business School Continues Tradition of Exploring Emerging... September 7 2005
62. ^ Party GOP-style with Meg Whitman and Carly Fiorina Nov 4, 2008
63. ^ Women share experiences: Fired Hewlett-Packard CEO Carly Fiorina told the Texas Conference for Women that failure can be an opportunity for growth 2007-10-05
64. ^ Writer and Former CEO Carly Fiorina | Texas Monthly Talks 2008-01-17
65. ^ HP's Carly Fiorina to Address National Women's Leadership Conference May 1 March 1 2004
66. ^ The Leadership Summit 2009
67. ^ Tony Blair, Bono Appear at Willow Creek Conference 2009-08-07
68. ^ Jacoby, Mary (2008-04-22), Carly Fiorina Gets a Plug for VP Job, http://blogs.wsj.com/washwire/2008/04/22/carly-fiorina-gets-endorsement-of-sorts-for-vp-job/ 
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72. ^ McCain Economic Adviser Carly Fiorina's Golden Parachute 2008-09-16
73. ^ McCain Defends Fiorina's Golden Parachute 2008-10-23
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External links

Wikimedia Commons has media related to: Carly Fiorina

Wikiquote has a collection of quotations related to: Carly Fiorina

• Carly Fiorina Enterprises
• Carly For California

Interviews and speeches

• Fiorina's keynote speech, given at MIT (October 11, 2002)
• Video timeline of tenure, compiled by CNET (February 10, 2005)
• Interview with Leslie Stahl, from 60 Minutes (October 8, 2006)
• Fiorina interview, with Forbes (October 11, 2006)
• Discussion of Tough Choices, from FORA.tv (October 19, 2006)
• Management and leadership series, from Stanford University (April 5, 2007)
• Stanford interview, from iinnovate (May 16, 2007)
• Web 2.0 Summit 09: A conversation at YouTube (requires Adobe Flash) with John Battelle 2009-10-22 Alternate URL

Business positions
Preceded by Richard Hackborn	Chairman of Hewlett-Packard 2000 – 2005	Succeeded by Patricia C. Dunn
Preceded by Lewis E. Platt	Chief Executive Officer of Hewlett-Packard 1999 – 2005	Succeeded by Robert Wayman
	President of Hewlett-Packard 1999 – 2005	Succeeded by Mark Hurd

v • d • e The Hewlett-Packard Company Company Founders: William Hewlett • David Packard • Rod Canion • Jim Harris • Bill Murto Corporate Directors: Lawrence T. Babbio, Jr. • Sari M. Baldauf • Richard A. Hackborn • John H. Hammergren • Mark V. Hurd • Joel Z. Hyatt • John R. Joyce • Robert L. Ryan • Lucille S. Salhany • G. Kennedy Thompson Computer Hardware Products: HP Compaq PCs • Compaq Presario • HP Pavilion • HP Mini • VoodooPC Consumer Electronics and Accessories: iPAQ • HP calculators • HP Photosmart • LaserJet • Lightscribe • Deskjet Other Divisions: ProCurve • Logoworks • Neoware • Indigo Digital Press• TOWER Software• HP Mercury Discontinued Products: HP Vectra • HP Omnibook • HP Jornada • HP Digital Entertainment Center • Compaq Evo • Compaq Deskpro • HP Digital Cameras • iPod+HP Alumni: Steve Jobs • Steve Wozniak • Patricia C. Dunn • Robert Wayman • Michael Capellas • Lewis E. Platt • John A. Young • Carly Fiorina Assets: HP Garage See also Acquisitions Annual Revenue: US$104.2 billion (▲15% FY 2007) • Employees: 309,000 • Stock Symbol: NYSE: HPQ • Website: hp.com

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