Carly Fiorina was named chairman of the board of Hewlett-Packard on Friday, adding to her list of titles and duties. Fiorina, the company's president and chief executive officer, replaces Richard A. Hackborn, a current HP board member, who had been serving as chairman. Hackborn will continue to serve on the company's board.
The company also announced that the board of directors has approved the use of $US1 billion to buy back company shares. Despite the recent roller coaster motion of the tech sector, HP's stock was trading at $US99.44 per share early Friday, up more than $US4.
HP makes a wide variety of products, including computers, peripherals and medical equipment.