Posted by : bpburnwal on Sep 27, 2003 - 09:59 AM General

SAN JOSE, Calif. (AP) - Hewlett-Packard Co. chief executive Carly Fiorina will step down from Cisco Systems Inc.'s board of directors in November.
Fiorina, who has been on networking company's board since January 2001, chose not to stand for re-election, according to the filing by Cisco.

``It was a personal decision,'' HP spokeswoman Rebeca Robboy said. ``HP and Cisco look forward to the opportunity to develop a new and broader partnership.''

Fiorina joined HP in July 1999 and led the company through its contentious merger with Compaq Computer Corp. The $19 billion marriage was finalized in May 2002, but the combined company's results have recently been disappointing.

Cisco will not immediately name a replacement candidate. Its bylaws allow for a board of anywhere from eight to 15 members.

Shares of San Jose-based Cisco closed 28 cents higher, to $21.42, in Thursday trading on the Nasdaq Stock Market. Shares of Palo Alto-based HP gained 61 cents, to $20.97, on the New York Stock Exchange.

Cisco's shareholders will meet on Nov. 11.