Palo Alto, Calif., July 19, 1999- Hewlett-Packard Co. named Carleton (Carly) S. Fiorina president and chief executive officer, ending a closely watched, top-level recruitment effort. Fiorina, 44 years old, is succeeding Lewis E. Platt, 58, who previously announced his intention to retire. Fiorina was president of Lucent Technologies' Global Service Provider Business, Lucent's largest and fastest growing division, with more than $20 billion in annual revenue. She also spearheaded the planning and execution of Lucent's 1996 initial public offering and subsequent spin-off from AT&T.

Platt will remain chairman until the end of the year, by which time HP's computing and imaging businesses are expected to be independent of its measurement businesses. Upon Platt's retirement on Dec. 31, 1999, Richard (Dick) A. Hackborn, 60, a former HP executive and a current member of the board of directors, has agreed to become non-executive chairman.

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