HP director Babbio steps down as part of reshuffle
updated 09:00 pm EST, Mon January 30, 2012
Board drops three directors
HP has announced that Larry Babbio Jr. is stepping down from his position on the company's board of directors. The departure marks the latest move in a series of changes within HP's leadership, including the addition of six new directors to the company's board within the past year.
The company has also shuffled its CEO several times in recent years, after Mark Hurd resigned amid a sexual harassment scandal. The board replaced Hurd with Leo Apotheker, however the new CEO was on the job for less than 12 months before being fired. His successor, former eBay head Meg Whitman, is still with the company.
Babbio, a former Verizon executive, has served on HP's board since 2002, when he was brought on during the company's acquisition of Compaq. In contrast, 10 of the 13 current board members have only been with the company since 2009 or later, according to a Reuters report.
Babbio will maintain his current position until the next shareholders meeting scheduled in March, where he will not be seeking reelection. Two other board members, Sari Baldauf and Dominique Senequier, will stop down at the same time.
