HP CFO retires after 37 years at company

Posted by Wolfgang Gruener

Palo Alto (CA) - Hewlett-Packard's chief financial officer Bill Wayman is calling it quits after being with the company for 37 years. Wayman had joined HP in in 1969 as an accountant made his way up through the ranks and was named CFO in 1984. He also served briefly as interim chief executive officer in 2005, after HP had ousted Carly Fiorina.

He will retire as executive vice president and chief financial officer. Wayman will retain his seat on HP's board of directors until the firm's stockholders meeting in March 2007. He served on the board between 1993 and 2002 and was re-appointed in February 2005. Wayman will head into a retirement with about 1.7 million exercisable stock options currently worth about $5.4 million.

He will be succeeded the company's treasurer and senior vice president, Cathie Lesjak, effective December 31, 2006.