Tom Perkins, the Silicon Valley venture capitalist, made a terrible mistake by comparing criticism of rich Americans – the “1 per cent” – to the Kristallnacht attack on Jews in Germany in 1938. Mr Perkins, co-founder of Kleiner Perkins Caufield Byers, has since apologised.
The appointment of Meg Whitman today to replace Léo Apotheker at Hewlett-Packard is a resounding blow to Mr Apotheker. But it also reflects very badly on the hapless HP board.
I was very critical of Mr Apotheker’s abrupt change of course in August, arguing that he had “needlessly alienated investors by thrusting so much unpalatable information and future uncertainty on them at once. He should have taken things steadily rather than making a big bang.”
But what was HP’s board doing by appointing him less than a year ago, agreeing to his strategic shift, including a spin-off of its personal computer division, and then turning round and jettisoning him after the market reacted badly? Read more