Ralph Whitworth has succeeded Raymond Lane as chairman of Hewlett-Packard‘s board of directors on an interim basis as Lane has decided to step down as executive chairman.
HP will no longer have a lead independent director, currently Rajiv Gupta, and the board has begun searching for a nonexecutive chairman, HP said Thursday.
“I will continue to serve HP as a director,” Lane said.
Gupta will continue serving as a board member on the board and will succeed Thompson as chairman of the audit committee.
Gary Weiner will succeed Gupta as chairman of the nominating and governance committee.
The company is also searching for two new independent directors after John Hammergren and G. Kennedy Thompson decided to leave the board following seven and eight years of tenure, respectively.
“I’m grateful that Ray will continue to serve, and I wish John and Ken the very best,” said Meg Whitman, HP president and CEO.
“I also appreciate Ralph’s willingness to increase his responsibilities during this transition,” Whitman added.
Whitworth will succeed Hammergrenn as head of the finance and investment committee.
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