HP’s Board Signals Closer Oversight of CEO

Hewlett-Packard Co.’s board is investigating the company’s flawed $11 billion acquisition of software firm Autonomy Corp., and has set up an informal committee to provide strategic advice to Chief Executive Meg Whitman.

The moves were disclosed by some HP directors in a private meeting with big investors on Monday, according to a person who attended the meeting. The efforts appeared to be aimed at demonstrating that the board has put management on a shorter leash following a string of blunders at the Palo Alto, Calif., company.

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