Hewlett-Packard Co.?s new CEO, Mark Hurd, took questions from financial analysts Wednesday morning, offering little information about how he may shape HP?s technology direction, except to point out the importance of industry-standard platforms.
?I"m aware of the fierce competition in the IT industry,? Hurd said, ?and the ongoing shift to industry-standard platforms.?
But Hurd, who until Tuesday was the CEO of NCR Corp., declined to discuss any specific strategic approaches with analysts who called in for the conference call, and who, from their questions, were interested in knowing whether he may spin off some parts of the company?s business, just as IBM Corp. recently did with its PC business.
When IT executives talk about ?industry-standard platforms,? they usually mean anything but RISC and, to some extent, Unix. But Hurd didn?t open that door, instead pointing broadly to ?the potential of HP?s portfolio of products and services, the tremendous growth and profit opportunities, a significant patent portfolio, a strong balance sheet and generally improving financials with strong cash-flow generation.?
HP has invested heavily in its HP-UX operating system but is getting out of the PA-RISC chip business in favor of using Intel Corp."s Itanium processors and Advanced Micro Devices Inc."s Opteron devices.
Hurd didn?t say whether he would reduce HP?s workforce, now at about 150,000 employees, or take any actions other than to meet executives and learn about the company and its markets.
But Hurd also said that he would be focused on results.
?I believe in an execution-oriented culture," he said. "My management style reflects a fundamental belief in cost discipline and focused investment in strategic growth initiatives.?
The conference call with financial analysts was at 6 a.m. PST. Hurd is scheduled to hold a press conference with members of the media at 10 a.m. PST at HP"s headquarters in Palo Alto, Calif.
According to documents filed by the company with the U.S. Securities and Exchange Commission Tuesday, Hurd?s employment agreement is for four years at a base salary of US$1.4 million. But bonus and stock-option agreements will bring his salary up to millions of dollars. It includes a $2 million cash signing bonus paid within 30 days of April 1, his first official day on the job.