It doesn't really matter who was in charge at HP after the founders left and the era of bottomless government spending on Cold War technology ended. The place was in trouble, and big changes were warranted.
All the boomers who had hunkered down in the back labs of HP and thought they had permanent jobs because they worked at a company headed by engineers had a day of reckoning.
It doesn't matter who was in charge. HP was headed down because nobody needed expensive instruments with their circuit boards gold plated "just because it's HP" anymore. I love all that cool old gear but am glad my taxes aren't paying for it anymore.
Carly isn't to blame, although, obviously she is popular to blame.