Hewlett-Packard Co. will not renominate Walter B. Hewlett as a director on the companys board, "based on his ongoing adversarial relationship with the company, as evidenced by his recent litigation against HP, according to a notice posted on HPs website.
Among directors renominated by the board is Patricia C. Dunn, co-chairman and global CEO of Barclays Global Investors.
After the merger vote with Compaq Computer Corp., which Mr. Hewlett opposed, "the HP board unanimously determined to renominate him, Sam Ginn, chairman of the boards nominating and governance committee, said in the posting. "My fellow board members and I were therefore shocked when just hours later Walter Hewlett filed a spurious lawsuit against the company, continuing his assault on the integrity of the HP board and management team.
In a statement, Mr. Hewlett said: "Although I disagree with my fellow directors about the merits of merging with Compaq, there can be no dispute that I have been dedicated to enhancing value for HPs stockholders. He added that "dissent is not disloyalty and "healthy boards need not agree on every issue.
HPs annual meeting is April 26.