Palo Alto, Ca., USA - April 5, 2013, Palo Alto, Ca., USA - HP announced that Raymond J. Lane has decided to step down as chairman of the board, to be replaced on an interim basis by Ralph V. Whitworth.
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Mr. Lane was appointed executive Chairman in two yearss ago after having served as HP’s non-executive Chairman. He has served as Managing Partner of Kleiner Perkins Caufield & Byers, he was President and Chief Operating Officer and a director of Oracle Corporation, and a senior partner of Booz Allen Hamilton.
Mr. Lane also served as a division vice president with Electronic Data Systems Corporation, an IT services company that HP acquired. He is a director of several private companies and is a former director of Quest Software, Inc.
Mr. Whitworth is a Founder, Principal, and Investment Committee member of Relational Investors. He has served on the boards of several public companies, including Apria Healthcare Group, Genzyme Corporation, Hewlett-Packard Company, Mattel, Sirius Satellite Radio, Sovereign Bancorp, Sprint Nextel Corporation, Tektronix, United Thermal Corporation, Waste Management, and Wilshire Technologies.
He also served as Chairman of the board of Apria and Waste Management.
Mr. Whitworth is considered an expert on corporate governance. He has been invited to present his views on corporate governance and shareholder rights matters before the United States Senate and House of Representatives, the U.S. Securities and Exchange Commission, the New York Stock Exchange Board, and the New York Federal Reserve.
Mr. Whitworth served on five national Blue Ribbon Commissions sponsored by the National Association of Corporate Directors regarding director compensation and corporate governance. He also served on a Joint Task Force assembled by the Council of Institutional Investors and the National Association of Corporate Directors. He also served as Chairman of Sovereign Bancorp’s Credit and Risk Committee and its Capital Committee. ■