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Carly Fiorina

Cara Carleton "Carly" Fiorina (born Cara Carleton Sneed; September 6, 1954 in Austin, Texas) is an American business executive, best known as former CEO (1999–2005) and Chairman of the Board (2000–2005) of Hewlett-Packard (HP). She is also a contributor on the Fox Business Network.



Early life
Fiorina attended Charles E. Jordan High School in Durham, North Carolina, only for her Senior year due to her father's frequent relocations during this time.
Attended law school at University of California, Los Angeles but dropped out after one semester.
Worked various secretarial positions including at HP as a temp working for Kelly Services (then Kelly Girls)
Worked as a receptionist at Marcus & Millichap and was a broker briefly. During her speech at the 2006 ICSC convention in Las Vegas, Ms. Fiorina noted that her time at Marcus & Millichap helped her learn how to navigate the business world.
Taught English in Italy (her first husband's career had taken them to that country)

[edit] Curriculum Vitae
BA in philosophy and medieval history, Stanford University, California, 1976
MBA in marketing, Robert H. Smith School of Business at the University of Maryland, College Park, 1980
SM in management, MIT Sloan School of Management under the Sloan Fellows program, Cambridge, Massachusetts, 1989

Carly Fiorina

[edit] AT&T (1980-1995)
Fiorina joined AT&T in 1980 as a management trainee and rose to become a Senior Vice President.


[edit] Lucent Technologies (1995-1999)
On November 20, 1995, promoted by AT&T to Executive Vice President for corporate operations for the future Lucent spinoff, reporting to Henry B. Schacht.[2]
On February 5, 1996, Lucent Technologies was spun off from AT&T. Fiorina played a key role in planning and implementing the initial public offering of stock and launch activities.[3][4]
On October 15, 1996, appointed President of Lucent consumer products business, reporting to Rich McGinn, President and COO of Lucent.[5]
On October 1, 1997, appointed Chairman of Philips Consumer Communications, a US$2.5 billion joint venture in corded/cordless phones and answering machines.[6] Philips Consumer Communications was dissolved in 1998.[7]
On October 23, 1997, appointed Group President of Lucent global service provider business, with global marketing responsibility for Lucent's largest customer segment.[8]
In October 1998, Fiorina was ranked #1 in Fortune magazine's first listing of the most powerful women in business.[9][10] She remained at the top until 2004 and was listed near the top in the following years. On first being listed, she remarked that the idea of this list is inappropriate.
On July 19, 1999, Fiorina joined Hewlett-Packard.

[edit] Hewlett-Packard Company (1999-2005)
Fiorina joined Hewlett-Packard Company on July 19, 1999 as CEO, succeeding Lewis Platt.[11] She was not involved in the decision to spin-off Agilent Technologies but she presided over the process of implementing this decision. She often referred to her efforts as an attempt to "Reinvent HP." During the general business downturn in 2001, Fiorina opted for 7,000 layoffs.[12]

Throughout her career at HP, Fiorina was a very visible CEO. Her business travel included interactions with Hollywood entertainers and politicians. Her actions prompted the San Jose Mercury News to speculate that she might later run for election to public office.

In 2001 she was named one of the 30 most powerful women in America by Ladies Home Journal.


[edit] Compaq merger
In 2002, Fiorina proposed a controversial merger with rival company Compaq. She campaigned for this plan and it was implemented amid some controversy. After the merger, quarterly results were inconsistent, leading to several sharp sell-offs in the shares. After the merger, HP saw an exodus of top managerial talent, mostly from the Compaq side, including Michael Capellas, Jeff Clarke, Mary McDowell, and the forced resignation of Peter Blackmore. HP's combined PC business was number one for the year following the merger until Dell Computer Corp (now Dell, Inc.) regained the top spot. HP's services lost market share to IBM, relying upon its lucrative printer division to remain profitable.

On January 7, 2004, at a meeting with Congressional members, Fiorina said, "There is no job that is America's God-given right anymore. We have to compete for jobs as a nation."[13][14][15] Her statements angered Bay Area workers who felt that low wages overseas encouraged corporations to use less-qualified offshore workers instead of well-qualified locals.[16] Fiorina responded to this criticism by publishing a clarifying op-ed piece in the Wall Street Journal.[17]

Fiorina was named in the Time 100 for 2004.[18]


[edit] Departure
As HP's performance slowed, the Board of Directors became increasingly concerned. In early January 2005, the HP Board of Directors presented Fiorina with a four-page list of issues the board had with Fiorina's performance.[19] A week after the meeting, the plan was leaked to the Wall Street Journal.[20] The board proposed a plan to shift her authority to HP division heads, which Fiorina resisted.[21]

On 9 February 2005, Carly Fiorina was dismissed as chairman and chief executive officer of HP. "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. "HP is a great company and I wish all the people of HP much success in the future." She was replaced by Patricia C. Dunn as chairman and CFO Robert Wayman as CEO.[22] Hewlett-Packard's stock jumped 7% on news of her departure.[23]

Under Hewlett-Packard's severance agreement, Carly Fiorina received US $21 million in cash, which was 2.5 times her base annual salary.[24] On March 8, 2006, two large institutional investors filed suit against Hewlett-Packard for violating its own severance cap when it doled out a multimillion-dollar payment to Fiorina as part of her termination agreement.

Carly Fiorina

Post-HP activities
In a commencement address at the North Carolina Agricultural and Technical State University on May 7, 2005, Fiorina said about HP: "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. I could have given it away and the story would be different."[26]

In an 10 October 2007 article in Daily Variety, it was reported that Fiorina had signed with Fox Business Network to become a frequent business commentator on the newly-formed cable network, intended to be a competitor to the CNBC cable network.[27]

Fiorina holds positions on 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.[28]

In early September 2005, Fiorina was named a director at Revolution Health Group, a venture formed by Steve Case.[29] In October 2005, Fiorina joined the board of computer security company Cybertrust.[30] In April 2006, Fiorina joined the board of directors for Taiwan Semiconductor Manufacturing Company. Fiorina is an independent Taiwan Semiconductor Manufacturing Company board member and serves on the audit and compensation committees.[31]

On 9 October 2006, Fiorina released her book, Tough Choices: A Memoir, 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 our world. She then launched a book tour, with several appearances scheduled for Silicon Valley locations.[32] On 10 October 2006 while she was interviewed on the Charlie Rose Show, Fiorina asserted that her leadership was strong throughout, and that the Compaq merger was well conceived, but misunderstood by the Board.[33]

In an interview with the Wall Street Journal during her book tour, Fiorina said she is considering a political career or some form of "public service." She is also open to becoming CEO of another public company.[34]


[edit] Personal life
Fiorina's father, Joseph T. Sneed III, was a constitutional law scholar and is a federal judge. Her mother Madelon Juergens Sneed was a portrait and abstract artist, and she has two siblings.
Married first husband Todd Bartlem, a Stanford classmate, in June 1977.
In 1985, she married AT&T executive Frank J. Fiorina (he opted for early retirement in 1998). 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."[35]
Lives in Washington, DC and Los Altos Hills, California.