Hewlett-Packard Co. board chairman Ralph Whitworth is resigning July 16 for health reasons, the Palo Alto company announced today. He will also be taking a leave of absence from Relational Investors, a San Diego activist investment company he co-founded in 1996.
Whitworth was named interim chairman to the tech giant's board of directors in April 2013 after then-chair Raymond Lane stepped down, following a controversial decision to acquire Autonomy Corporation, to be a regular board member. Whitworth has been a member of the board since 2011.
"HP has made enormous progress reconstituting its board, implementing world-class capital allocation and corporate governance practices, and putting the company back on strong financial footing," Whitworth stated in a press release. "HP's shareholders can be very confident that (CEO) Meg (Whitman), her team and the current board will stick to the strong practices and discipline we've put in place. While I'm disappointed to step down from HP's board at such an exciting time for the company, it gives me great comfort that HP is in such talented and steady hands."