Companies Who Embrace Change Will Succeed, Predicts Mark Hurd, HP CEO

In the next five years, as much data as has existed in the entire world will be created again, according to HP President and Chief Executive Officer Mark Hurd. The companies who succeed will be those who embrace change and turn it into a competitive advantage, he says. Hurd shared his insights with a sell-out audience of more than 700 technology business and community leaders at the seventh annual Utah Information Technology Association (UITA) Hall of Fame Event at the downtown Marriott in Salt Lake City Friday night. At the event, UITA formally inducted two new members to its Hall of Fame: Drew Major, a founder of Novell and the lead architect and developer of Novell's NetWare operating system for 15 years; and Dr. Homer R. Warner, M.D., PhD, a father of Medical Informatics. UITA Chairman Jack Sunderlage noted that Major and Warner are inductees number 19 and 20 since the Hall of Fame's inception in 1999. "The Hall of Fame celebration honors technology leaders with Utah ties whose innovations have made significant advancements to the IT industry," said Richard R. Nelson, president and chief executive officer of UITA. "In every respect, Drew Major and Dr. Homer R. Warner exemplify the kind of leadership and innovative thinking that is truly changing our world." In his comments at the event, Hurd shared his personal management key to success: "In my opinion, the secret to success is to focus a company and provide its people with a clear mission and clear expectations. Make sure they have the right resources, and then get out of their way." "It's not just the clarity of the message," Hurd added, "But it's also the frequency of the message that's key. Having everyone on the same page, understanding their role, and knowing how they'll be measured and how they'll be rewarded is critical." Senator Orrin Hatch, who introduced Hurd at the event, noted that since his induction as HP's CEO, the company's stock price has increased by 50 percent. Conversely, the day Hurd departed his former position at NCR, the company's stock price decreased by 15 percent and has remained down for the 8 months since his departure. In separate comments both Hatch and Hurd remarked that the issue of patent reforms continues to be a top legislative priority. Hurd noted that the number of patent lawsuits has tripled in the past several years. The cost to defend just one patent lawsuit averages $2 M. "Every lawsuit we have to defend costs money we can't spend on innovation," Hurd maintained. About UITA As Utah's premier professional organization for more than 3,000 Utah technology companies, the Utah Information Technology Association (UITA) exists to form closer relationships with industry and community leaders, develop superior management talent, sharpen professional skills and help gain access to capital. For more information on UITA, please visit http://www.uita.org.

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