HP's Andreessen vows to stay on

Hewlett-Packard director Marc Andreessen, who was among several board members targeted for ouster by stockholders and some investor advisory services, is determined to remain on the board.

“This is the company that built Silicon Valley and deserves to be a glorious success story,” he told Bloomberg TV on Monday. “I’m going to stick with it for as long as I could possibly be useful.”

The Netscape Communications founder was among those targeted for removal because of HP’s lackluster financial performance and its 2011 acquisition of software firm Autonomy, which has become a multi-billion-dollar blunder.

HP stockholders voted in March to retain all of the directors. But the controversy later prompted Ray Lane to step down as chairman, though he will remain on the board. Two other criticized directors — John Hammergren and G. Kennedy Thompson — have said they will resign in May.

Steve Johnson Steve Johnson (227 Posts)

Steve Johnson covers the microchip industry, cyber security and the big-technology sector that includes Hewlett-Packard, Oracle and Cisco Systems.