HP chief executive Mark Hurd underwent a grilling from investors at the company's annual general meeting this week.Hurd faced questions on increased competition in the server space, after Cisco's announcement that it is entering the market in partnership with VMware, and rumours that IBM may buy Sun Microsystems.The HP chief claimed that he was unconcerned by the Cisco move, and refused to comment on the speculation about IBM and Sun."I do not remember a day where the market wasn't competitive. I think you'll continue to see competition in the market," Hurd told the meeting. "I couldn't be more confident in the future of HP."The agenda for the meeting contained just two official items: the re-election of board members; and the choice of a new accounting firm. Hurd then faced questions from shareholders, one of which concerned his own pay, and in particular the US$42m bonus he has received.Hurd said that figure was tied to HP's performance over the past three years, and that he did not expect to make as much in the coming years.Another question concerned how Apple, a company with a research and development budget one third the size of HP's, could have a better market capitalisation.Hurd maintained that Apple was very competitive, and said that he is researching ways to bring more technology to market from HP Labs over the coming year.
Issue: 332 | October 2014
Access CRN's extensive online resources including; email bulletins, community discussions and unique online news.
Processing registration... Please wait.
This process can take up to a minute to complete.
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can log on to the CRN website or start posting comments on articles.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain '@crn.com.au' to your white-listed senders.