Farewell Fiorina
Carly's abrupt removal from her post at HP this week sparked a humorful note over at The Street.com
Women have progressed in the executive suite...They've gotten so far...that they're just as likely as men to be rewarded for their incompetence. Fiorina, of course, lost her job as chairman and CEO of HP Wednesday, amid growing dissatisfaction with her performance. H-P's stock is worth about half of what it was when Fiorina took control of the tech giant in 1999. Not only that, but the company's 2002 merger with Compaq -- a deal that Fiorina championed in a close and bitter proxy contest -- has failed to live up to Fiorina's promises for it. But though Fiorina is no doubt bummed about being fired, the company did ease the pain for her. The departing executive will receive a severance package, according to press reports, worth $21 million. Yes. Just like her male counterparts at other flailing giants, Fiorina was able to receive an outrageously generous severance package despite a job performance that was mediocre at best.
On Wednesday, Catablast! agreed that the ouster was justified--Every CEO is ultimately Ahab--bold and daring, but responsible for everyone on board as well. In corporate waters, you must steer your crew to safety while still managing to break new ground, innovate, create. Not an easy job, from what I hear.
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