PayPal's CEO Change Blindsided HP's Board 21
An anonymous reader shares a report: PayPal said on Tuesday it was booting its CEO and replacing him with its board chair Enrique Lores, sparing no ambiguity as to why: "The pace of change and execution was not in line with the Board's expectations," it said in a statement. One group that was blindsided was HP, where Lores was until Tuesday serving as CEO, according to people familiar with the matter.
Lores' switchup sent them rushing to launch a search process, those people said. HP's board does have internal candidates which it's considering for the top job, according to a person familiar with the board's thinking. As chair of PayPal's board, Lores played a role in a process evaluating internal and external candidates. It was unclear when or if he recused himself from the final decision to name him as CEO. But HP's board was only made aware that Lores was taking the CEO role at PayPal in recent weeks, the people said.
Lores' switchup sent them rushing to launch a search process, those people said. HP's board does have internal candidates which it's considering for the top job, according to a person familiar with the board's thinking. As chair of PayPal's board, Lores played a role in a process evaluating internal and external candidates. It was unclear when or if he recused himself from the final decision to name him as CEO. But HP's board was only made aware that Lores was taking the CEO role at PayPal in recent weeks, the people said.
Not Sure Which Is Worse (Score:5, Insightful)
...Paypal's website and mobile app that's 90% ads at this point, or HP's pure-plastic laptops that continue to push boundaries on bloatware.
A pox on both houses.
Re: Not Sure Which Is Worse (Score:5, Funny)
Re: the only way to uninstall it is a shotgun! (Score:2)
I tried that, didn't work for me.
What kind of shotgun worked for you?
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HP bloat is insane. Every 10minutes or so I get a command prompt appearing running some code and disappearing. It's their bloody battery manager which is so ingrained into windows the only way to uninstall it is a shotgun!
HP... Most laptops I just reinstall the OS from the source media but HP especially. Even MS makes it easy to download it these days.
Dust off, nuke it from orbit. It's the only way to be sure.
This is what is worse. (Score:2, Informative)
...Paypal's website and mobile app that's 90% ads at this point, or HP's pure-plastic laptops that continue to push boundaries on bloatware.
A pox on both houses.
A Board from one company decided to essentially steal another company's CEO. With basically zero notification. How about we NOT overlook the obvious problem with that shit move before it becomes infectious regardless of the crap products.
The hell would you do as the head of HPs Board? These are both publicly traded companies.
Sniping executives like that is the kind of shit that gets Luigi Mangione off the hook to pull another job.
Re:This is what is worse. (Score:5, Insightful)
I counter with, I would think the board of any public corporation would have a succession plan ready, say for instance there is a health emergency with the CEO. Or more likely the CEO does something bad and needs to be removed. The response to this should be "Enrique Lores has decided to leave HP, the acting CEO is Stacy Smith who is fully capable of fulfilling the role."
From what I have seen over the years, public boards of directors are utterly useless. They provide almost zero oversight. They approve non-sensical CEO pay. Just awful.
Sidenote. I worked at a Fortune 50, public firm in a role where I was included in the exec deferred comp plans. There was a ~100 page plan detail and no kidding, 80 of those pages outlined all the stuff that only applied to C-suite comp. All the special goodies, health insurance for life, the corporate jet, crazy stock options that could never be under water. They could not lose money even if the firm went bankrupt. This part of the system is completely broken.
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I counter with, I would think the board of any public corporation would have a succession plan ready, say for instance there is a health emergency with the CEO. Or more likely the CEO does something bad and needs to be removed. The response to this should be "Enrique Lores has decided to leave HP, the acting CEO is Stacy Smith who is fully capable of fulfilling the role."
OK. Let’s just say that succession plan exists. Let’s also say the fucking executive coup that was executed to move a CEO unknowingly from one company to another, also resulted in a stock crash. Millions or even billions lost.
What exactly is your next legal move as the head of the Board of the victim company, perhaps after getting major shareholder lawsuits?
What happens when you find out the ousted CEO, wasn’t really given a choice in the matter?
HPs history or shit current status is irr
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Who cares what happens to HP, I assumed they had gone bankrupt already?
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A Board from one company decided to essentially steal another company's CEO. With basically zero notification. How about we NOT overlook the obvious problem with that shit move before it becomes infectious regardless of the crap products.
The Chairman of the Board at PayPal was the CEO of HP, and he decided to switch to being Chairman of the Board and CEO at PayPal. If someone made you a job offer would that be stealing you from your employer with basically zero notification? Would that be a "shit move" and an "obvious problem"? What should be done? Should changing jobs be outlawed?
The hell would you do as the head of HPs Board?
What kind of terrible board did HP have that would choose as their CEO the Chairman of the Board of PayPal (or to allow their CEO to become Chairman of the Bo
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Re:Not Sure Which Is Worse (Score:5, Insightful)
Well at least there's a cure for both.
UBlock does a pretty good job of blocking PayPal's ads.
And if you buy an HP computer (or for that matter, ANY Windows computer), the first step is to wipe the hard drive and install a fresh, clean copy of Windows directly from Microsoft. NONE of the computer manufacturer's branded software, ads any value whatsoever.
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Honey scam (Score:2)
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Apology Accepted (Score:2)
Admiral Needa
Kind of a d*** move on Lores' part (Score:2)
If he's abruptly stepping down as HP CEO, that really upsets the apple cart. And that's gotta be tanking HP stock, at least in the short term.
Seriously, common professional courtesy is to at least offer a few weeks transition. For a CEO, a few months is more typical.
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Musical chairs between Mascots. (Score:1)