At a packed early morning session at Gartner Symposium/ITxpo 10/8/2002, Carly Fiorina, chairman and CEO of HP, told attendees that HP is on track to complete the merger of HP and Compaq. The primary driver for the merger was to cut costs and advance servers. Fiorina stated that HP rose from number four in the server market to number one in the last year. Fiorina mentioned that HP spent a considerable amount of time producing consolidated product road maps for their customers and delivered them in a timely manner so the customers could make purchasing decisions. She also reported that they expected some short-term marketshare loss and that there was a decline in UNIX that has now rebounded.

Fiorina said that the workforce restructuring of 15,000 people represented duplication in the two companies and that HP is working very hard to pick the best from two very good management teams. Fiorina stated, "We are placing all the Compaq people we can. In the areas of services and printing, we are even doing some hiring."

Fiorina stated that the industry was moving to HP's strengths which include digitized printing. HP is planing to invest $900 million in research and development for this market. "HP is now a low cost producer and can compete in all phases of the printer marketplace, which was not the case 2 1/2 years ago," Fiorina emphasized.

When asked for her prediction on "big bets for the future," Fiorina said that heterogenity, virtualization, manageability, conectivity, return on investment (ROI) and digitized processes would be her top five.

She concluded by stating that HP will focus on "areas where we can have an effect and work with partners for the rest." Fiorina added, "HP will maintain high levels of research and development. The reasons we are successful are our multiple operating systems, partner-centric philosophy and ability to manage multivendor environments."

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