HP Introduces New President And CEO

In the wake of its recent breakup into two separate entities, HP has announced that Carleton (Carly) S. Fiorina ,44, has been named president and CEO and will succeed the 58-year-old Lewis E. Platt, who will retire at year's end. Fiorina also will join the HP board of directors.

Fiorina has spent a total of nearly 20 years at AT&T and Lucent, the past two as president of Lucent's Global Service Provider Business. During her tenure, the division dramatically increased its growth rate, rapidly expanded its international revenues and gained market share in every region across every product line. In addition, she spearheaded the planning and execution of Lucent's 1996 initial public offering and subsequent spin-off from AT&T, one of the largest and most successful IPOs ever. Prior to Lucent, Fiorina held a number of senior positions at AT&T. She began her career with the company as an account executive.

She received her bachelor's degree in medieval history and philosophy from Stanford University. She earned a master's degree in business administration from the University of Maryland at College Park, Md., and a master of science degree from MIT's Sloan School. Fiorina is a member of the board of directors of the Kellogg Company and Merck & Co., Inc. She recently was elected to the U.S. China Board of Trade.

Platt will remain chairman until year-end, by which time HP's computing and imaging businesses are expected to be independent of its measurement businesses. Upon Platt's retirement, Dec. 31, 1999, Richard (Dick) A. Hackborn, 60, a former HP executive and a current member of the board of directors, has agreed to become non-executive chairman.

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