HP shareholder revolt targets two directors, auditor over Autonomy purchase

An investor advisor group is asking shareholders of Hewlett-Packard not to re-elect two long-standing board members and to oppose the ratification of the company’s audit firm in connection with the continuing controversy over the company’s purchase of Autonomy. HP met with shareholder groups this week, though it is not clear whether there has been a resolution on the issues, a source said. The company said in November it was taking a $8.8 billion charge as a result of what it called serious accounting improprieties at U.K. software company Autonomy before it acquired the firm in 2011. The shareholders are being asked to vote against the re-election of directors G. Kennedy Thompson and John L. Hammergren, and the ratification of Ernst & Young as independent auditor at HP’s annual meeting on March 20.To read this article in full or to leave a comment, please click here