Hewlett-Packard's Board Continues to Deliver Drama as Chairman Lane Steps Down

Ray Lane, who became HP’s chairman two years ago as part of a leadership reshuffling intended to revive confidence in the PC maker’s board, quit that post today after earning criticism from investors for a series of corporate blunders.

Lane, who will remain a director as HP searches for a new non-executive chairman, was targeted by some investors, who urged shareholders not to vote for his reelection at last month’s annual meeting. While he was reelected to a one-year term, he received the fewest votes, with just 59 percent of shareholders endorsing him.

“After reflecting on the stockholder vote last month, I’ve