Reuters: Technology News: Union pension adviser says will oppose two HP directors

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Union pension adviser says will oppose two HP directors Feb 25th 2013, 23:24 Tweet Share this Email Print Analysis & Opinion Why do unions seek exemption from anti-stalking laws? Related Topics Tech » Investing and Taxes Simplified » A view of the Hewlett Packard headquarters in Palo Alto, California November 23, 2009. Credit: Reuters/Robert Galbraith Mon Feb 25, 2013 11:01am EST (Reuters) - A union pension adviser plans to meet with Hewlett-Packard Co officials on Monday to air concerns about their corporate oversight, according to a person familiar with the matter. The meeting follows criticism by the adviser, CtW Investment Group, of Hewlett-Packard and its audit committee last month over problems like the company's troubled acquisition of UK software company Autonomy. A statement sent by CtW on Monday and obtained by Reuters reiterated its criticism of the deal and said "HP's board has continued to display poor judgment, a lack of accountability, and poor oversight of critical functions" despite an overhaul just over two years ago after the departure of the prior chief executive, Mark Hurd. In the statement, the adviser blamed three directors, including Executive Chairman Raymond Lane, for what it called "continued strategic and governance challenges." It called for the appointment of a new outside auditor to address what it called concerns over the independence of the audit function. The source described the meeting, which will include other investors, on condition of anonymity because it was not publicly announced. CtW, affiliated with the labor group Change to Win, advises union pension funds with roughly $200 billion in assets. Change to Win is a federation of U.S. unions with 5.5 million members pushing to organize and represent workers in sectors like health care, hotels and ports. (Reporting by Ross Kerber; Editing by Jeffrey Benkoe) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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