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Intrigue at HP

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We touched on this story in the Opening Bell this morning but it deserves even more attention. We’ve never heard of anything like it—a board chair ordering spies to monitor the phone calls of her company’s directors. Imagine for a moment if HP chair Patricia Dunn had asked you whether she should undertake this activity. How hard would it be for you not to use the phrase “batshit insane” to describe her plan?
But this is more than evidence of a total lack of judgment. It’s downright dangerous for a chair to direct espionage against independent directors. It risks completely undermining the independence of directors. Spying on someone is the first step in controlling them.