Arik Hesseldahl

Recent Posts by Arik Hesseldahl

HP Taps Jim Murrin as Treasurer

hp_logo_darkOn the heels of reporting earnings that soundly beat expectations despite business conditions that are about as bad as anyone can remember, tech giant Hewlett-Packard today announced a shake-up in its financial office.

HP said it had named Jim Murrin as its corporate treasurer, effective July 1. He’ll replace John McMullen, who is retiring after 32 years with HP. Murrin is a former senior VP and general manager in the enterprise services business. His current job — which he’ll be keeping — is SVP in charge of corporate development.

Since a lot of HP’s recent success on the quarterly earnings front is due to its careful management of cash flow, paying down debt and setting money aside for investment purposes, the treasurer job is a pretty important one that’s front and center in the turnaround campaign that CEO Meg Whitman has been pushing. Murrin will report up to CFO Cathie Lesjak.

Here’s HP’s original announcement:

HP Names Jim Murrin Treasurer

jim_murrinPALO ALTO, CA–(Marketwired – May 24, 2013) – HP (NYSE: HPQ) today announced that Jim Murrin has been elected to serve as treasurer in addition to his current role as senior vice president of Corporate Development and Corporate Financial Analytics, effective July 1.

In this expanded role, Murrin will manage the company’s worldwide cash, debt, foreign exchange, capital structure, risk management and benefits-plan administration, in addition to performing his current duties, which include assessing ongoing corporate development and company performance, establishing short- and long-term plans and helping to drive decisions on investment choices. He will continue to report to Cathie Lesjak, executive vice president and chief financial officer, HP.

“Jim is a highly adaptable and accomplished veteran HP leader,” said Lesjak. “He has spent the last 23 years in a variety of roles, including several senior leadership positions, giving him a diverse perspective that is especially valuable as we make progress towards the company’s turnaround.”

In January, Murrin rejoined the Finance organization in his current role. Before returning to Finance, he was leading the Select Accounts Group within HP Enterprise Services; he previously served as HP’s corporate controller.

Murrin will succeed John McMullen, senior vice president and treasurer, HP, who is retiring on July 1 after an impressive 32-year career with the company.

“John’s tremendous business acumen and collaborative leadership style all have contributed to his stellar reputation at HP,” said Lesjak. “He is a talented leader and dedicated mentor who will be greatly missed.”
McMullen is looking forward to spending time with his family, exploring new hobbies and traveling during his retirement.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work