Hewlett-Packard axe chief executive

Carly Fiorina, one of corporate America’s highest ranking female executives, was sacked as chairman and chief executive of Hewlett-Packard today after clashing with the technology giant’s board.

Board members said they forced the 50-year-old out because she failed to execute a planned strategy of slashing costs and boosting revenue as quickly as directors had hoped.

Fiorina had championed the acquisition of Compaq Computer Corporation in 2002 despite fierce resistance from shareholders and directors. The board is now looking for better results from the more diversified operation.

Fiorina’s departure comes after months of speculation that California based HP needed a major shot of adrenalin to make it competitive with other technology companies, particularly rivals Dell and IBM.

In recent months, Fiorina had been the target of intensifying criticism from technology analysts and the media for her ambitious diversification strategy - an attempt to change HP from a relatively marginal company that focused on printers and ink into a Silicon Valley consulting and computing powerhouse.