ABOUT THE BOOK
Carly Fiorina, new face of McCain campaign
Reuters
Wed Jun 18, 2008 11:42am EDT
By Jeff Mason
WASHINGTON (Reuters) - Carly Fiorina is quickly becoming the new face of John McCain's campaign.
Once considered the most powerful businesswoman in the United States, Fiorina has evolved from the Republican presidential candidate's top economic adviser to a catch-all advocate and attack dog on a range of subjects from women's issues to the Iraq war. It's a far cry from the corporate boardroom but the former Hewlett-Packard chief executive appears to be in her element and the Arizona senator clearly likes it that way.Thus the question: if McCain wins the White House, where will Fiorina end up? "It is John McCain's decision as to who he puts in his cabinet or who he puts on his ticket or anything else," Fiorina told Reuters in an interview. "I'll trust him to make the right decision."
That sounds like she's interested.
"Of course, it would be an honor for anyone to serve John McCain. But I'm really focused on helping the American people get to know him a little better," she said. With regular television appearances, town hall meetings and conference calls with reporters, Fiorina is such a visible presence on McCain's behalf that Barack Obama, his Democratic opponent in the November presidential election, is taking her on directly. The Illinois senator accused her last week of distorting his tax plans. His campaign has highlighted the layoffs she presided over as Hewlett-Packard's chief executive, as well as the hefty compensation package she received when she was forced out.
Obama spokesman Bill Burton said in a statement it was "too bad" the McCain camp did not see a perception problem with Fiorina "who presided over thousands of layoffs at Hewlett-Packard while receiving a $21 million severance package and $650,000 in mortgage assistance."
THE CEO
Fiorina became the head of Hewlett-Packard Co. in 1999 and in 2002 oversaw the then-largest merger in the U.S. technology sector when the company bought rival computer maker Compaq Computer Corp. HP's poor performance forced her exit as chairman and chief executive in 2005.
She says she is proud of her tenure at HP and her compensation package has been deliberately misconstrued.
"The facts of my severance package are that it was $14 million," she said. "All aspects of my compensation, including my severance package, were approved by and voted on by shareholders."
That's important for political reasons. McCain has criticized excessive CEO pay and severance, saying his White House would push for reforms that required shareholder approval of compensation packages.
Fiorina agrees with that philosophy and said she insisted on it when she joined HP, also turning down an $8 million retention package during the Compaq merger to avoid the appearance among shareholders of a conflict of interest.
"All aspects of a CEO's compensation and severance should be transparent and a company should be accountable to its shareholders," she said.
"Obama might say let's have the government regulate CEO pay. That would not be John McCain's approach but John McCain isn't afraid to say some CEOs have been paid excessively."
As for layoffs, Fiorina said they came with the territory.
"Laying people off is the toughest thing a chief executive has to do but it is something that has to be done," she said, adding that her record at HP was one of job creation. Fiorina's corporate background may open her up to criticism from Democrats but her role as a woman leader is seen as an asset to Republicans as they reach out to disappointed supporters of Hillary Clinton's failed bid to secure her party's presidential nomination. "It is still today true that women in positions of authority are characterized differently, caricatured differently, scrutinized differently than are men, and I think that is undeniably the case in terms of Hillary Clinton's candidacy," Fiorina said.
She has expressed the same empathy to Clinton backers while urging them to shift allegiance to McCain.
"I get it. I've been there," Fiorina said.