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Reports: Ray Lane on the hot seat as HP chairman

By Staff, wire reports

CHARLESTON, W.Va. -- Investors who are concerned about Hewlett-Packard's recent performance are targeting HP Chairman Ray Lane, who maintains a public presence in West Virginia.

Lane is a member of West Virginia University's Board of Governors and a WVU graduate.     

According to The Wall Street Journal and other media, Lane and three fellow board members were set to meet on Monday with about 20 of the company's top investors. The meeting came as one frustrated investor sought to unseat Lane and two other members of HP's board of directors, John Hammergren and G. Kennedy Thompson.

CtW Investment Group has eyed the three directors for ouster, and investors could vote on it during HP's annual meeting March 20, according to The Wall Street Journal. Officials with the investment group, an arm of the labor federation "Change to Win," are upset about several moves made by company leadership.           

Lane is currently a managing partner at Kleiner Perkins Caufield & Byers in Menlo Park, Calif., a venture capital firm that was an early investor in Google and Netscape.  Lane, who was appointed to the WVU Board of Governors in 2008, is a former president of computer software giant Oracle Corp.


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