HP sever ties with Williams

HP today announced that they would be severing sponsorship ties with Williams at the end of this Formula 1 season. They had been the main sponsor for Williams since 2000. Williams as such would get a totally new look as they are also changing engine partners (BMW) and switching to Bridgestone tyres from Michelin.

I had expected this to happen after the arrival of Mark Hurd, who replaced Carly as the CEO of HP. Having come from a pure operational background, he has his mind set on getting the company and its stock back on track. Most of his plans have started to give positive results as he stresses to cut down on 'hobbies' and focus more on core business. HP has also stopped selling ipods. There was hardly any value add there. The stock has rebounded from the low $15 (last year) to $27.69 (as of today).