Carly Fiorina

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Carly Fiorina

Born Cara Carleton Sneed
September 6, 1954 (1954-09-06) (age 54)
Austin, Texas
Occupation Business Executive
Spouse(s) Todd Bartlem (1977-1984, div.)
Frank Fiorina (1985-present)
Website
carlyfiorina.com

Carly Fiorina (born Cara Carleton Sneed on September 6, 1954) is an American businesswoman, who served as chief executive officer at Hewlett-Packard from 1999 to 2005. Prior to joining Hewlett-Packard, Fiorina served as an executive vice president at AT&T, and orchestrated the spinoff and initial public offering of Lucent, which became the most successful initial public offering in United States history up to that point in time.

In 1998, Fortune magazine named her the "most powerful woman in business" in their inaugural listing.[1] A year after joining Hewlett-Packard, Fiorina also became the company's chairman of the board. With the support of the board of directors, she completed a controversial merger with rival Compaq in 2002. Fiorina stepped down from Hewlett-Packard in 2005, with the company stating that Fiorina had put in place "a plan that has given HP the capabilities to compete and win."[2]

In 2008, Fiorina served as a top economic advisor to Republican presidential candidate John McCain.[3] She now sits on several corporate boards of directors, is an Honorary Fellow of the London Business School, and is a member of the Board of Trustees for the Massachusetts Institute of Technology.

In March 2009, Fiorina disclosed that she had been diagnosed with breast cancer and had undergone surgery with "an 'excellent' prognosis for a full recovery."[4]

Contents

[edit] Early life and education

Cara Carleton Sneed was born in Austin, Texas to Joseph Tyree Sneed III, a constitutional law scholar[citation needed], 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.

[edit] Career

Fiorina worked various secretarial 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.

[edit] AT&T and Lucent

Fiorina 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;[5] she played a key role in planning and implementing the 1996 initial public offering of stock and company launch strategy.[6][7]

Later in 1996, Fiorina was appointed president of Lucent's consumer products business, reporting to Rich McGinn, president and chief operating officer.[8] In 1997, she was appointed chairman of Lucent's consumer communications joint venture with Philips consumer communications.[9] 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.[10] 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.)[11][12] She remained at the top of the list for seven consecutive years, until 2004, and was listed near the top in subsequent years.

[edit] Hewlett-Packard

Fiorina joined the Hewlett-Packard Company in July 1999 as chief executive officer, succeeding Lewis Platt.[13] Fiorina immediately became a highly visible chief executive, and remained so throughout her tenure at the company. Her prominent public profile prompted the San Jose Mercury News to speculate that she might later run for election to public office.

During her time at the company, Fiorina focused her efforts on the "reinvention" of Hewlett-Packard, by pushing the company into new markets and solidifying the company's leadership in existing markets. 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 separate of the unit into the standalone Agilent Technologies.

In 2001, Fiorina was named one of the thirty most powerful women in America by Forbes magazine.

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[14], the son of company co-founder William Hewlett. The merger put the company in the top spot in the computer industry, (ahead of Dell). In the quarters following the merger, financial results were impacted by integration costs and the company's share price plateaued on Wall Street.

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."[15][16][17] 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.[18] 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."[19]

Fiorina was named to the Time 100 in 2004.[20]

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.[21] The board proposed a plan to shift her authority to HP division heads, which Fiorina resisted.[22] A week after the meeting, the confidential plan was leaked to the Wall Street Journal.[23] Less than a month later, Fiorina resigned as chairman and chief executive officer of the company, and issued the following statement, via the company:

"While I regret that the board and I have differences about how to execute HP's strategy, I respect their decision. HP is a great company and I wish all the people of HP much success in the future."[24]

Fiorina was succeeded, on an interim basis, by Patty Dunn as chairman, and then-chief financial officer Robert Wayman as acting chief executive.[24] While the company's stock jumped on news of Fiorina's departure,[25] both Dunn and Wayman were later implicated in a criminal spying scandal that exposed significant rifts among directors, undermined integrity in the board, and stemmed from the leaking of confidential documents and information by directors. Under the company's agreement with Fiorina, she was paid slightly more than twenty million dollars in severance.[26]

In 2000, Fiorina proposed the acquisition computer-services business EDS, but withdrew the bid after the proposal received a poor reception from HP shareholders. In 2008, three years after Fiorina left HP, the company resumed talks to acquire EDS and completed the deal later that year. The New York Times wrote that "the bid for EDS shows yet again that [Fiorina] had the right strategy" and that "after eight years, HP has come around to her thinking."[27]

Mark Hurd was appointed chief executive officer at HP less than two months after Fiorina stepped down. Fiorina's defenders, and even some critics, credit her with laying the foundations for success at the company.[28][29] In 2009, the Associated Press wrote:

[Fiorina's] biggest achievement at HP -- pushing through the hugely controversial $24 billion acquisition of Compaq Computer, a deal bitterly opposed by descendants of HP's founders -- was a source of strife at the time. But it wound up being a shrewd decision that paid off after she was forced out in 2005.[30]

[edit] Tough Choices

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. 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.[31] Following the release of her autobiography, Fiorina said she was considering a career in "public service," and that she had considered becoming chief executive of another public company.[32] Fiorina has been a strong proponent, along with other technology executives, of the expansion of the H-1B visa program.[33]

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."[34]

Fiorina signed on with the Fox Business Network to become a frequent business commentator on the network.[35] She also joined the board of trustees of the Massachusetts Institute of Technology and the Foundation Board of the World Economic Forum. Fiorina is an Honorary Fellow of the London Business School.[36] In late 2005, she was named to the boards of directors at Revolution Health Group[37] and computer security company Cybertrust.[38] The following year, she became a member of the board of directors for chip maker Taiwan Semiconductor Manufacturing Company.[39]

[edit] Politics

Fiorina endorsed Senator John McCain as the Republican nominee in the 2008 presidential elections and campaigned with him.[40] In early 2008, Fiorina was referred to in media sources as a potential Vice President in a McCain administration.[41] At an economic round-table with the senator in January 2008, Fiorina praised McCain, claiming that: "John McCain is a man who understands what the role of government should be, and what the role of government should not be."[42] On March 7, 2008, Fiorina was named "Chair of Victory, 2008", an RNC-coordinated group to raise money and conduct get-out-the-vote activities, by the Republican National Committee. She also stated then that she would additionally be a point person for the McCain campaign as related to business and economic affairs, as well as publicly advocating the Republican Party.[43] On September 3, 2008, Fiorina addressed the Republican National Convention.[44] Earlier that day, she defended the selection of Sarah Palin as McCain's running mate and declared that Palin was being subjected to sexist attacks,[45] a charge she repeated a few days later in response to a Saturday Night Live skit in which Hillary Clinton and Sarah Palin were lampooned by actresses Amy Poehler and Tina Fey.[46]

Fiorina has defended Sarah Palin against the charge of lack of experience, describing her as "a person of great accomplishment".[47] 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, including John McCain, Barack Obama, and Joe Biden, had the experience to run a major corporation.[48] News outlets reported that the McCain campaign was "furious" with Fiorina's statements.[49][50][51][52] Fiorina subsequently canceled a CNN television interview[53] and a scheduled appearance at a rally in Florida. [54]

Fiorina spoke at the California Republican National Convention in February 2009.[55] Fiorina is said to be considering a run for Senate against Barbara Boxer in 2010.[56]

[edit] Personal life

Fiorina has two siblings. Her first marriage was to Todd Bartlem, a Stanford classmate, in June 1977. In 1985, she married AT&T executive Frank 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."[57] She currently lives in Palo Alto, California and has a home in Washington, D.C..

On March 2, 2009, Fiorina underwent surgery for breast cancer at Stanford Hospital. She had been diagnosed on February 20.[58][59]

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

[edit] References

  1. ^ Sellers, Patricia (1998-10-12). "The 50 Most Powerful Women in American Business". Fortune Magazine. http://money.cnn.com/magazines/fortune/fortune_archive/1998/10/12/249284/index.htm. Retrieved on 2008-07-15. 
  2. ^ "News Release: HP Chairman and CEO Carly Fiorina Steps Down". Hewlett-Packard Company. February 9, 2005. http://www.hp.com/hpinfo/newsroom/press/2005/050209a.html. 
  3. ^ Carpenter, Amanda (March 7, 2008). "RNC Merges with McCain". Townhall.com. http://www.townhall.com/Columnists/AmandaCarpenter/2008/03/07/mccain_merges_with_rnc. 
  4. ^ http://www.businessweek.com/ap/financialnews/D96MP2TO1.htm
  5. ^ Systems and technology company headquarters, top execs announced. Press release. 1995-11-20. 
  6. ^ AT&T announces board members, SEC filing for new company. Press release. 1996-02-05. 
  7. ^ Fiorina to head Consumer Products business for Lucent Technologies. Press release. 1996-10-15. 
  8. ^ Fiorina to head Consumer Products business for Lucent Technologies. Press release. 1996-10-15. 
  9. ^ Philips and Lucent complete PCC joint venture, create world leader in corded/cordless phones and answering machines. Press release. 1997-10-01. 
  10. ^ Lucent Technologies appoints chief operating officers, organizes business around fastest growth opportunities. Press release. 1997-10-23. 
  11. ^ Julie Creswell and Dina Bass (1998-10-12). "Ranking The 50 Most Powerful Women: Fortune's First Annual Look at the Women Who Most Influence Corporate America". Fortune. 
  12. ^ Patricia Sellers and Cora Daniels (1998-10-12). "The 50 Most Powerful Women In American Business: In an age of celebrity, it may surprise you that our No. 1 woman is someone you've never heard of. There are other surprises too: Some nontraditional businesswomen, like Oprah Winfrey, rank high--and some well-known CEOs, like Warnaco's Linda Wachner, don't.". Fortune. 
  13. ^ Wharton School (2006-10-18). "An Interview with Carly Fiorina". Knowledge@Wharton. http://knowledge.wharton.upenn.edu/article.cfm?articleid=1581. 
  14. ^ Dawn Kawamoto (2002-03-13). "Walter Hewlett speaks out". CNET. http://www.news.com/2100-1001-858499.html. 
  15. ^ Jim Puzzanghera (2004-01-08). "Coalition of High-Tech Firms to Urge Officials to Help Keep U.S. Competitive". San Jose Mercury News (Knight Ridder/Tribune Business News). 
  16. ^ Drew Cullen (2004-01-08). "US tech industry stands up for overseas jobs". The Register. http://www.theregister.co.uk/2004/01/08/us_tech_industry_stands_up/. 
  17. ^ Carolyn Lochhead (2004-01-08). "Tech bosses defend overseas hiring / Intel, HP chiefs warn that U.S. needs to improve education system". San Francisco Chronicle. http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/01/08/MNGDI45PV01.DTL. 
  18. ^ Carolyn Lochhead (2004-01-09). "Economists back tech industry's overseas hiring / Workers deny U.S. lacks qualified staff". San Francisco Chronicle. http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/01/09/MNG6C46T0M1.DTL. 
  19. ^ Carly Fiorina (2004-02-13). "Be Creative, Not Protectionist". The Wall Street Journal. http://www.truthabouttrade.org/content/view/2376/54/. 
  20. ^ Sarah H. Wright (2005-04-13). "Four earn place in Time". MIT News Office. http://web.mit.edu/newsoffice/2005/time100-0413.html. 
  21. ^ Pui-Wing Tam (2005-02-10). "H-P's Board Ousts Fiorina as CEO". The Wall Street Journal. http://online.wsj.com/article/SB110795431536149934.html. 
  22. ^ Peter Burrows and Ben Elgin (2005-03-14). "The Surprise Player Behind The Coup At HP". BusinessWeek. http://www.businessweek.com/magazine/content/05_11/b3924044_mz011.htm. 
  23. ^ Pui-Wing Tam (2005-01-24). "Hewlett-Packard Board Considers A Reorganization --- Management Moves Stem From Performance Concerns; Helping Fiorina Succeed'". The Wall Street Journal. http://online.wsj.com/article/SB110652096353733547.html. 
  24. ^ a b HP (2005-02-09). HP Chairman and CEO Carly Fiorina Steps Down. Press release. http://www.hp.com/hpinfo/newsroom/press/2005/050209a.html. 
  25. ^ Paul R. La Monica (2005-02-10). "Fiorina out, HP stock soars". CNN/Money. http://money.cnn.com/2005/02/09/technology/hp_fiorina/index.htm. 
  26. ^ "HP To Pay Fiorina $21 Million Severance Package". ECommerce Times. 2005-02-14. Archived from the original on 2005-02-18. http://web.archive.org/web/20050218232358/http://www.ecommercetimes.com/story/40594.html. 
  27. ^ http://www.livemint.com/2008/05/14234650/Eight-years-and-14-billion-la.html?d=1
  28. ^ Lakshmanan, Indira. “Fiorina Buttresses McCain on Economy, Touting Tax Cuts, Trade”, Bloomberg News (2008-05-28).
  29. ^ Robertson, Jordan. “Ex-HP CEO Key To McCain's Team”, Associated Press via CBS News (2008-05-16).
  30. ^ http://www.businessweek.com/ap/financialnews/D96MP2TO1.htm
  31. ^ Fiorina, Carly. Interview with Charlie Rose. The Charlie Rose Show. 2006-10-10.
  32. ^ Alan Murray and George Anders (2006-10-10). "Fiorina Says Her Next Role May Involve Politics". The Wall Street Journal. http://online.wsj.com/article_print/SB116044122018187595.html. 
  33. ^ Arrington, Michael (2008-03-17), McCain Embraces Tech Executives For White House Push, http://www.techcrunch.com/2008/03/17/mccain-embraces-tech-executives-for-white-house-push-techcrunch-interviews-carly-fiorina 
  34. ^ "Fiorina's Commencement Address". BusinessWeek. 2005-05-09. http://www.businessweek.com/technology/content/may2005/tc2005059_6954.htm. 
  35. ^ Michael Learmonth (2007-10-10). "Fox cabler signs Fiorina". Daily Variety. p. 4. 
  36. ^ "Former Executive Bios: Carleton S. Fiorina". http://www.hp.com/hpinfo/execteam/bios/fiorina.html. Retrieved on 2006-01-16 {{{accessyear}}}. 
  37. ^ "Fiorina joins Case's company". CNN/Money. 2005-09-09. http://money.cnn.com/2005/09/09/news/newsmakers/case_fiorina/index.htm. 
  38. ^ Carly Fiorina Joins Cybertrust Board of Directors. Press release. 2005-10-27. http://www.trusecure.com/pr_events/press_releases/2005/10/27/. 
  39. ^ Dan Nystedt (2006-04-06). "Carly Fiorina joins board of chip maker TSMC". Network World. http://www.networkworld.com/news/2006/040606-fiorina-joins-board-tsmc.html. 
  40. ^ "McCain Supporters". JohnMcCain.com. http://www.johnmccain.com/Supporters/. Retrieved on 2008-01-23 {{{accessyear}}}. 
  41. ^ 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/ 
  42. ^ Eilperin, Juliet (2008-01-23), "McCain Outlines Economic Plans", The Trail, http://voices.washingtonpost.com/the-trail/2008/01/23/mccain_outlines_economic_plans_1.html 
  43. ^ Carpenter, Amanda (2008-03-07), RNC Merges with McCain, http://www.townhall.com/Columnists/AmandaCarpenter/2008/03/07/mccain_merges_with_rnc 
  44. ^ Republican National Convention (2008). "Remarks As Prepared for Delivery: Carly Fiorina". Republican National Committee. http://portal.gopconvention2008.com/speech/details.aspx?id=47. Retrieved on 2008-09-06 {{{accessyear}}}. 
  45. ^ Ostrom, Mary Anne (2008-09-03). "Former valley tech leaders Fiorina, Whitman tout McCain, his economic plan". Mercury News. http://www.mercurynews.com/ci_10374485?IADID=Search-www.mercurynews.com-www.mercurynews.com. Retrieved on 2008-09-15 {{{accessyear}}}. 
  46. ^ Mooney, Alexander. ""Fiorina calls SNL impersonation of Palin 'sexist'" CNN Political Ticker, September 15, 2008". http://politicalticker.blogs.cnn.com/2008/09/15/fiorina-calls-snl-impersonation-of-palin-sexist/. 
  47. ^ ""CBS NEWS' FACE THE NATION" (transcript)" (PDF). CBS News. 2008-08-31. http://www.cbsnews.com/htdocs/pdf/FTN_083108.pdf. Retrieved on 2008-09-19 {{{accessyear}}}. 
  48. ^ Marinucci, Carl (2008-09-17). "Fiorina: Candidates not CEO Material". The San Francisco Chronicle. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/17/MNB912VAAP.DTL. Retrieved on 2008-09-19 {{{accessyear}}}. 
  49. ^ King, John (2008-09-16). "Fiorina's comment called 'Biden-like'". CNN. http://politicalticker.blogs.cnn.com/2008/09/16/fiorinas-comment-called-biden-like/. Retrieved on 2008-09-16 {{{accessyear}}}. 
  50. ^ "Will Carly Fiorina 'Disappear' Like Gramm?". AOL News. 2008-09-16. http://news.aol.com/political-machine/2008/09/18/will-carly-fiorina-disappear-like-gramm/. Retrieved on 2008-09-16 {{{accessyear}}}. 
  51. ^ "Is Fiorina finished? Two big mistakes get Carly in trouble". Christian Science Monitor. 2008-09-16. http://features.csmonitor.com/politics/2008/09/16/is-fiorina-finished-two-big-mistakes-get-carly-in-trouble/. Retrieved on 2008-09-16 {{{accessyear}}}. 
  52. ^ "McCain camp disappears Fiona". Countdown with Keith Olbermann. 2008-09-17.
  53. ^ King, John (2008-09-16). "Fiorina's comment called 'Biden-like'". CNN.com Political Ticker. http://politicalticker.blogs.cnn.com/2008/09/16/fiorinas-comment-called-biden-like/. Retrieved on 2008-09-16 {{{accessyear}}}. 
  54. ^ Lengerich, Ryan (2008-09-20). "Fiorina a no-show at McCain rally in Estero". Fort Meyers News-Press. http://www.news-press.com/apps/pbcs.dll/article?AID=/20080920/NEWS0107/80920015. Retrieved on 2008-09-20 {{{accessyear}}}. 
  55. ^ Associated Press (2009-01-30). "Calif Sen. Boxer has $4M campaign war chest". San Jose Mercury News. http://www.mercurynews.com/news/ci_11592474. Retrieved on 2009-01-30 {{{accessyear}}}. 
  56. ^ Carly Fiorina "Considering" Bid to Oust Barbara Boxer in 2010 February 21, 2009
  57. ^ Joann S. Lublin and Rebecca Blumenstein (1999-07-22). "In the Upscale Fiorina Family, She's the CEO and He's Home but she enjoys the simple life". Wall Street Journal. http://www.careerjournal.com/myc/success/19990728-lublin.html. 
  58. ^ Carla Marinucci (2009-03-03). "Carly Fiorina has surgery for breast cancer". San Francisco Chronicle. http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/02/BA8D1685C9.DTL. Retrieved on 2009-03-20 {{{accessyear}}}. 
  59. ^ Steven Musil (2009-03-02). "Carly Fiorina treated for breast cancer". CNET. http://news.cnet.com/8301-1001_3-10186316-92.html. Retrieved on 2009-03-20 {{{accessyear}}}. 

[edit] External links

Sister project Wikimedia Commons has media related to: Carly Fiorina
Sister project Wikiquote has a collection of quotations related to: Carly Fiorina

[edit] Dated

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
Retrieved from "http://en.wikipedia.org/wiki/Carly_Fiorina"
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