An HP executive has accused former boss Mark Hurd of massive under-investment in the company, claiming the damage done would take time to correct.According to HP chairman and venture capitalist Ray Lane, the company will need to pump money into research in order to spark growth after two disappointing quarters marked by slashed sales expectations.
Lane joined HP at the same time as his long-term ally, new CEO Leo Apotheker, after former leader Hurd left under a cloud of scandal, argued the new helmsman was paying for past mistakes of serial cost-cutting.
"It's not a three-month job," Lane said, adding that Apotheker is focused on HP's long-term growth. "Mark Hurd did not invest," said Lane. "He burned the furniture to please Wall Street. Leo is not that."
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Topic: HP running to catch up after former CEO failed to invest (Read 843 times)