Date: Tuesday March 12, 2013 08:17:30 am
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ISS Urges “No” Votes on Three HP Directors
A major proxy-advisory firm is urging Hewlett-Packard Co. shareholders to oppose the re-election of Chairman Ray Lane and two other directors, citing lapses in supervision around the company’s $11 billion acquisition of U.K. software company Autonomy.
Institutional Shareholder Services, which advises big investors how to vote in corporate elections, criticized Mr. Lane and HP’s two longest serving directors, John Hammergren and G. Kennedy Thompson, for how the big computer maker handled the acquisition, which was approved on Mr. Lane’s watch and then largely written off.
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