Ousted HP Leader Fiorina Announces Presidential Run

Ousted HP Leader Fiorina Announces Presidential Run

By Paula Bernier, Executive Editor, TMC  |  May 04, 2015

The Republican corral of presidential contenders is getting crowded. The latest to enter the fray is Carly Fiorina (News - Alert).

The former CEO of Hewlett-Packard – whose board ousted her in 2005 – is promoting herself as someone who understands business and the economy.

Fiorina’s presidential website says under her leadership HP doubled its revenues, more than quadrupled its growth rate, tripled its rate of innovation (with 11 patents a day), quadrupled its cash flow, and became the eleventh largest U.S. company. She also shepherded HP’s 2002 acquisition of Compaq Computer in 2002.

However, on the downside, HP in the 2003-2004 time frame was losing ground from competitors Dell (News - Alert) and IBM and experienced what a February 2005 BloombergBusiness article referred to as “ragged financial performance.” Interestingly, the Carly for President website refers in a thinly veiled way to Fiorina’s problems at HP, but indicates it was the company and not her that was at fault.

“Carly didn’t always make the most popular decisions at HP – but, time and time again, they would prove to be the right ones,” according to the Carly for President website. “But even though her record as CEO speaks for itself, Carly faced headwinds from people who did not want to see HP change. They wanted to double-down on a flawed agenda that simply wasn't sustainable against the new challenges of the 21st Century. Our nation faces this very same problem today – where career politicians protect the current system that personally benefits them, but no longer works for the American people.”

The above-noted BloombergBusiness article quoted a former HP executive, who was not named in the piece, saying Fiorina was “good with marketing; she’s a good speaker for the company. But this is a company that doesn’t need a statesman. It needs a hands-on operations person.”

In addition to Fiorina, the following fellow Republicans have announced they are running for president: retired neurosurgeon Ben Carson as well as senators Ted Cruz, Rand Paul, and Marco Rubio. Former presidential candidate Mitt Romney has announced he will not be running. And no formal announcements have been made by potential Republican presidential contenders Jeb Bush, Chris Christie, Lindsey Graham, Bobby Jindal, Rick Perry, Rick Santorum, and Scott Walker.

Meanwhile, on the Democratic side, Hillary Rodham Clinton and Bernie Sanders have both announced their presidential runs. Sen. Elizabeth Warren has said she will not run. And Vice President Joe Biden, and Lincoln Chafee, Martin O’Malley, and Jim Webb seem to be flirting with the idea of presidential runs. 

Edited by Maurice Nagle
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