Robert Wayman

Robert P. Wayman (born July 5, 1945) was the former chief financial officer (CFO) of the Hewlett-Packard Company from 1984 to 2006. He served as the company's interim CEO in 2005, and was an executive vice president, as well as a member of the H-P board of directors. He died on July 22, 2022.

Early life and education

Wayman is a Chicago native.[1] He attended Northwestern University in Evanston, Illinois, where he graduated with a bachelor's degree in science engineering and a Master of Business Administration.[2]

Career

Robert Wayman joined the Hewlett-Packard Company in 1969 as a cost accountant at its Loveland, Colorado office, after a few years he moved to the company's headquarters at Palo Alto, California, where he held a number of finance positions before he was appointed as the company's CFO in 1984, he then reported to former CEO John Young. He served on the company's board of directors from 1993 to 2002, and rejoined the board in 2005.[3]

In February 2005, he was appointed an interim CEO, following Carly Fiorina departure as a result of pressures from the board of directors;[4] Wayman retained his finance responsibilities,[5] and served in the top executive role until Mark Hurd assumed the position in March 2005.[6] The board of directors approved a $3 million bonus[7] for his 52-day service as CEO, an unusual payout,[8] that led to questions by some corporate governance experts and employees,[8][9] but was defended by the company.[10][11]

On December 11, 2006, after 37 years with the company, Robert Wayman announced his retirement, which became effective on December 31.[12][3] He was succeeded by Cathie Lesjak. In a Financial Times interview, Wayman said he began to plan for retirement since 2002 but reiterated due to the company's controversial deal to acquire Compaq.[13]

Wayman joined the Santa Clara-based Affymetrix board of directors on March 19, 2007,[14] until it was acquired by Thermo Fisher Scientific in 2016. He was a board member of Sybase, until it was sold in 2010.[15] He also served as director in other corporation boards, including Con-Way Inc.,[15] and CareFusion.[16]

He currently serves on the board of the nonprofit V Foundation for Cancer Research.[17] He is a member of the Advisory Board to Northwestern University's Kellogg School of Management.[18]

References
  1. "Hewlett-Packard's Wayman to Retire". WSJ. Jan 31, 2006. Retrieved 2019-12-12.
  2. "H-P's Executive Shake Up". WSJ. Feb 9, 2005. Retrieved 2019-12-12.
  3. "HP CFO Bob Wayman to Retire After 37 Years at HP, to be Succeeded by Treasurer Cathie Lesjak". hp.com. Dec 11, 2006. Retrieved 2019-12-12.
  4. "It's official: Hurd new CEO at HP". CNN. March 29, 2005. Retrieved 2019-12-12.
  5. "HP's Fiorina Ousted; CFO Steps In". cfo.com. February 9, 2005. Retrieved 2019-12-12.
  6. "Hurd's Reign as Hewlett CEO Is Bookended by Scandal". WSJ. Aug 6, 2010. Retrieved 2019-12-12.
  7. "H-P approves $3 million award for CFO Bob Wayman". MarketWatch. April 5, 2005. Retrieved 2019-12-12.
  8. "HP's $58,000-a-Day Interim CEO". Bloomberg. April 7, 2005. Retrieved 2019-12-12.
  9. Becoming Hewlett Packard: Why Strategic Leadership Matters. p.262, ISBN 978-0190640446
  10. "HP finance chief to exit after 37 years at firm". Los Angeles Times. Dec 12, 2006. Retrieved 2019-12-12.
  11. "HP earmarks $3 million bonus for interim chief". April 5, 2005. Retrieved 2019-12-12.
  12. "Hewlett-Packard's Longtime Financial Chief Is Set to Retire". The New York Times. Dec 12, 2006. Retrieved 2019-12-10.
  13. "HP's Wayman to leave group after 37 years". Financial Times. December 11, 2006. Retrieved 2019-12-12.
  14. "Affymetrix Appoints Robert Wayman to Board of Directors". BusinessWire. March 19, 2007. Retrieved 2019-12-12.
  15. "Robert P. Wayman". financialexecutives.org. Retrieved 2019-12-13.
  16. "CareFusion Announces Board of Directors, Progress on Alaris Consent Decree". Cardinal Health. June 9, 2009. Retrieved 2019-12-13.
  17. "Robert P. Wayman". V Foundation for Cancer Research. Retrieved 2019-12-12.
  18. "Global Advisory Board". Kellogg School of Management.
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