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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/hewlettpackard-in-board-reshuffle.jpg"><img class="alignnone size-full" title="Hewlett-Packard announced plans to revamp its board of directors" src="http://londonglossy.com/wp-content/uploads/2011/01/min-hewlettpackard-in-board-reshuffle.jpg" alt="Hewlett-Packard announced plans to revamp its board of directors"/></a></p>
<p>Technology giant Hewlett-Packard has announced plans to replace four people on its board of directors as well as add another seat to the 12-member panel.</p>
<p>Joel Hyatt, John Joyce, Bob Ryan and Lucille Salhany will not stand for re-election at the company&#8217;s annual meeting in March. They will be replaced and a 13th board member will be appointed as well, officials confirmed.</p>
<p>A company source claimed that at least two of the departing board members were forced out as a result of their handling of the exit of former chief executive Mark Hurd, who quit in August.</p>
<p>Hurd&#8217;s forced exit angered many shareholders, who saw billions of dollars evaporate on the stock market. Shares in HP have only recovered recently from the episode.</p>
<p>HP shares fell by 31 cents (19p) to 46.47 dollars after the announcement on the board shake-up. In regular trading earlier, it gained 46 cents (28p), or about 1%, to close at 46.78 dollars on Thursday.</p>
<p>The new directors have been named as Booz&#038;Co chief executive Shumeet Banerji; Gary Reiner, formerly of General Electric; Patricia Russo, former chief executive of Alcatel-Lucent; Dominique Senequier, chief executive of AXA Private Equity, and Meg Whitman, former chief executive of online auctioneer eBay.</p>
<p>Whitman is a billionaire who spent more than any candidate for a state-wide office in US history in her Republican campaign for California governor last year. She spent at least 174 million dollars (£109 million), all but 30 million dollars (£18 million) of it her own money, but was defeated by former two-term governor Jerry Brown in the November election.</p>
<p>Charles Elson, director of the Weinberg Centre for Corporate Governance at University of Delaware, claimed so many departures at once was not normal. He said: &#8220;Four directors going out at once is unusual. Boards should not have this much drama.&#8221;</p>
<p>Stifel Nicolaus analyst Aaron Rakers said the board shuffle is more extensive than he expected but does not think it will move the company&#8217;s stock. He said: &#8220;It&#8217;s interesting but is it a big catalyst? Probably not.&#8221;</p>
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