Cara Carleton "Carly" Fiorina (/ˌfiːəˈriːnə/; née Sneed; born September 6, 1954) is an American businesswoman and politician, known primarily for her tenure as chief executive officer (CEO) of Hewlett-Packard (HP) from 1999 to 2005.
[41] In July 1999, Hewlett-Packard Company named Fiorina chief executive officer, succeeding Lewis Platt and prevailing over the internal candidate Ann Livermore.
[48] Although the decision to spin off the company's analytical instruments division pre-dated her arrival, one of her first major responsibilities as chief executive was overseeing the separation of the unit into the stand-alone Agilent Technologies.
[51][52] In early September 2001, in the wake of the bursting of the Tech Bubble, Fiorina announced the acquisition of PC maker Compaq with US$25 billion in stock,[7] which, at the time, was the second largest producer of personal computers, after Dell.
[67] Under Fiorina's leadership at HP, the company sold millions of dollars worth of printers and computer products to Iran through the foreign subsidiary, while U.S. export sanctions were in effect.
[68][69] After the story was initially reported by The Boston Globe in 2008,[70] the SEC sent a letter of inquiry to HP, who responded that products worth US$120 million were sold in fiscal 2008[71] arguing that the sales did not violate export sanctions because they were made through a foreign subsidiary.
[72] Hayden confirmed that he had made the request for HP servers as part of Stellar Wind, a 2001–2007 NSA warrantless surveillance program, but the details were not revealed to Fiorina at the time.
[72] Fiorina "acknowledged she complied with Hayden's request, redirecting trucks of HP computer servers that were on their way to retail stores from a warehouse in Tennessee to the Washington Beltway, where they were escorted by NSA security" to the agency's Fort Meade headquarters.
"[72] Hayden also requested that Fiorina provide advice to the agency "on how the CIA could maintain its undercover espionage mission in a culture of increasing government leaks and demands for greater public accountability and openness."
Fiorina instituted three major changes shortly after her arrival: replacing profit sharing with bonuses awarded if the company met financial expectations, a reduction in operating units from 83 to 12, and consolidating back-office functions.
By getting Fiorina to adopt the iPod as HP's music player, Jobs had effectively gotten his [iTunes] software installed on millions of computers for free, stifled his main competitor, and gotten a company that prided itself on invention to declare that Apple was a superior inventor.
[99] The Compaq acquisition was not as transformative as Fiorina and the board had envisioned: in the merger proxy, they had forecasted that the PC division of the merged entities would generate an operating margin of 3.0% in 2003, while the actual figure was 0.1% in that year and 0.9% in 2004.
[106] At the time of the announcement, Loren Steffy of The Houston Chronicle suggested that the EDS acquisition after Fiorina's tenure was evidence that her failed plan to acquire part of Pricewaterhouse Coopers was justified.
Finance,[109] Fiorina received a severance package valued at US$21 million, which consisted of 2.5 times her annual salary plus bonus and the balance from accelerated vesting of stock options.
[114] In 2005, The Wall Street Journal described Fiorina as the epitome of "an alluring, controversial new breed of chief executive officers who combine grand visions with charismatic but self-centered and demanding styles".
[120][121] During Fiorina's tenure as CEO, HP leased or purchased five planes, including two Gulfstream IVs, to replace four aging aircraft, only one of which had the range to fly overseas.
[7][87][123] Jeffrey Sonnenfeld of Yale School of Management said in August 2015 that problems with Fiorina's leadership style were what caused HP to lose half its value during her tenure.
[107][125][126][127] In October 2006, Fiorina published an autobiography entitled Tough Choices, about her career and her views on issues, what constitutes a leader, how women can thrive in business, and the role technology will continue to play in reshaping the world.
"[148] The San Francisco Chronicle reported that "Records also show that her Fiorina Foundation has never registered with the Internal Revenue Service or the state attorney general's charitable trust division, which tax-exempt charities are required to do.
A spokeswoman commented that "Fiorina and her staff believed the foundation was not required to file with the IRS because it accepted no outside contributions and donated only her personal wealth to worthy causes.
[176][177][178] After media coverage of Fiorina's comments, she "disappeared from public view" and planned television appearances were cancelled,[179] although she continued to chair the party's fundraising committee.
[194][195] Her campaign ad about Republican rival Tom Campbell featuring a "Demon Sheep" – created by Fiorina advertising consultant Fred Davis III – generated largely negative international publicity.
The stated mission of the organization was "...to engage women with new messages and new messengers by focusing on personal interactions with voters and going beyond the traditional methods of identifying, persuading and turning-out voters..."[217] In November 2014, The Washington Post reported that "Helping Fiorina chart her political future are consultants Frank Sadler, who once worked for Koch Industries, and Stephen DeMaura, a strategist who heads Americans for Job Security, a pro-business advocacy group in Virginia";[218] The Up-Project website lists Fiorina as chair.
Her business background and status as the only CEO and the only woman in a "sea of suited men" were mentioned as positives, though Republican strategists pointed to her poor 2010 Senate performance, unpaid campaign debt, and dismissal from HP as "considerable challenges" to her prospects.
"[247] The Nation commented, "With so-called women's issues poised to play an unprecedented role in the upcoming election, Republicans need someone who can troll Hillary Clinton without seeming sexist.
[275][276] In a February 2015 speech, Fiorina acknowledged the scientific consensus that climate change is real and caused by human activity,[273] but expressed skepticism that government can affect the issue,[273][277] and has "implied that targeting the coal industry will not solve the problem".
[282][283] In that campaign, Fiorina issued a position paper in which she "strongly advocated for metric-based accountability in schools" and "praised No Child Left Behind as setting high standards, and Race to the Top for using internationally-benchmarked measures.
"[273] In California, Fiorina supported the DREAM Act, which would allow children brought to the U.S. by their parents when they were under the age of 16 to secure permanent U.S. residency and a path to citizenship, if they graduate from college or serve in the armed forces.
[277] Fiorina opposes net neutrality rules adopted by the Federal Communications Commission (FCC), and has said she would "roll back" that policy: "Regulation over innovation is a really bad role for government.
"[318] Fiorina opposed the federal stimulus package of 2009 intended to create short-term job growth and invest in infrastructure, education, health, and renewable energy, calling it a waste of taxpayer money.