Dunn: I Did it for the Shareholders

During an interview with 60 Minutes, to be broadcast Sunday, ex Hewlett-Packard chairman Patricia Dunn may have provided some clues about her upcoming defense against felony charges she allegedly participated in an illegal investigation.

According to excerpts of the interview, released by CBS yesterday, she launched the probe “at the request of this board to solve a serious problem.”

“If you think that Hewlett-Packard is the only company that has an investigations force — which by the way, is peopled mostly with former law enforcement officers that do all kinds of private detective work, monitoring, posing as other people in order to solve problems to protect shareholder value — you’re being naive,” she reportedly told the famous network news program.

To me, that suggests that her lawyers will argue that everything she did was grounded in the principle that her legal duty to H-P stockholders superseded most (any?) other behavior.

If that’s indeed what she asserts, however, we can expect the counter argument that by participating in or explicitly or implicitly approving criminal activity, she was risking greater damage to the company’s value than any leaks could have incurred. Prosecutors could then plot H-P’s stock, which rose from under $19 a share 22 months ago to more than $36 on Sept. 5, the day before California’s attorney general announced an inquiry into the Palo Alto computer giant. In the month since, the stock has fluttered between $34 and $38 a share as investors ride the daily rollercoaster of revelations and implications.

This entry was posted in Hot Wires by Mike. Bookmark the permalink.

About Mike

Mike Buetow is editor-in-chief of Circuits Assembly magazine, the leading publication for electronics manufacturing, and PCD&F, the leading publication for printed circuit design and fabrication. He is also vice president and editorial director of UP Media Group, for which he oversees all editorial and production aspects. He has more than 20 years' experience in the electronics industry, including six years at IPC, an electronics trade association, at which he was a technical projects manager and communications director. He has also held editorial positions at SMT Magazine, community newspapers and in book publishing. He is a graduate of the University of Illinois. Follow Mike on Twitter: @mikebuetow