With Lane stepping down as executive chairman, the role of lead independent director, currently held by Rajiv L. Gupta, 68, is no longer necessary and will be eliminated. Gupta will remain on the board.
In addition, the two longest serving members of the board, John H. Hammergren, 53, and G. Kennedy Thompson, 62, are stepping down as directors. HP intends to name two new directors to replace Hammergren and Kennedy by the end of this year. Until then, HP will have nine directors on its board.
Lane served as executive Chairman from 2011 and as non-executive Chairman from 2010 to 2011. He has served as Managing Partner of Kleiner Perkins Caufield & Byers, a private equity firm, since 2000. Prior to joining Kleiner Perkins, he was President and COO and a director of Oracle. Before joining Oracle in 1992, he was a senior partner of Booz Allen Hamilton. Prior to that, he served as a division VP with Electronic Data Systems, an IT services company that HP acquired in 2008. He is a director of several private companies and is a former director of Quest Software.
Current Interim Chairman Whitworth has been a HP Director since 2011. He has been a principal of Relational Investors, a registered investment advisor, since 1996. He also is a former director of Genzyme, Sovereign Bancorp, Sprint Nextel and seven other public companies.
Outgoing Director Hammergren has served as a Director of HP since 2005. He has served as Chairman of McKesson since 2002. He joined McKesson in 1996 and held a number of management positions before becoming President and CEO in 2001. Mr. Hammergren also is a former director of Nadro, S.A. de C.V. (Mexico).
Thompson, who also leaves the board, has served as a Director of HP since 2006. He has been a principal of Aquiline Capital Partners, a private equity firm, since 2011 after having served as Senior Advisor to Aquiline from 2009 until 2011. Previously, he served as Chairman of Wachovia, a financial services company, from 2003 until 2008. He also served as CEO of Wachovia, formerly First Union Corporation, from 2000 until 2008 and as President from 1999 until 2008. Previously, he served as Chairman of First Union for a portion of 2001, Vice Chairman of First Union from 1998 to 1999, and EVP of First Union from 1996 to 1998. He also is a director of BNC Bancorp.