HP 2009 Annual Report Download - page 20

contaminated sites. We could incur substantial costs, including cleanup costs, fines and civil or criminal
sanctions, and third-party damage or personal injury claims, if we were to violate or become liable
under environmental laws.
Many of our products are subject to various federal, state, local and foreign laws governing
chemical substances in products and their safe use, including laws regulating the manufacture and
distribution of chemical substances and laws restricting the presence of certain substances in electronics
products. Some of our products also are, or may in the future be, subject to requirements applicable to
their energy consumption. We face increasing complexity in our product design and procurement
operations as we adjust to new and future requirements relating to the chemical and materials
composition of our products, their safe use, and their energy efficiency, including those that may result
from climate change legislation. In the event our products become non-compliant with these laws, they
could be enjoined from entering certain jurisdictions and we could face other sanctions, including fines.
We also are subject to legislation in an increasing number of jurisdictions that makes producers of
electrical goods, including computers and printers, financially responsible for specified collection,
recycling, treatment and disposal of past and future covered products (sometimes referred to as
‘‘product take-back legislation’’). There is no assurance that such existing or future laws will not have a
material adverse effect on HP’s operations or financial condition, although HP does not anticipate that
effects of product take-back legislation will be different or more severe for HP than the impacts on
others in the electronics industry.
We are committed to maintaining compliance with all environmental laws applicable to our
operations, products and services and to reducing our environmental impact across all aspects of our
business. We meet this commitment with a comprehensive environmental, health and safety policy,
strict environmental management of our operations and worldwide environmental programs and
services.
The liability for environmental remediation and other environmental costs is accrued when HP
considers it probable and can reasonably estimate the costs. Environmental costs and accruals are
presently not material to our operations or financial position. Although there is no assurance that
existing or future environmental laws applicable to our operations or products will not have a material
adverse effect on HP’s operations or financial condition, we do not currently anticipate material capital
expenditures for environmental control facilities.
Executive Officers:
Mark V. Hurd; age 52; Chairman, Chief Executive Officer and President
Mr. Hurd has served as Chairman of HP since September 2006 and as Chief Executive Officer,
President and a member of the Board since April 2005. Prior to that, he served as Chief Executive
Officer of NCR Corporation, a technology company, from March 2003 to March 2005 and as President
from July 2001 to March 2005. Mr. Hurd also is a director of News Corporation.
Peter J. Bocian; age 54; Executive Vice President and Chief Administrative Officer
Mr. Bocian has served as Executive Vice President and Chief Administrative Officer since
December 2008. Previously, Mr. Bocian served as Executive Vice President, Chief Financial Officer and
Chief Administrative Officer of Starbucks Corporation, a roaster and retailer of specialty coffee, from
October 2007 until November 2008 after having served as Executive Vice President and Chief Financial
Officer designate of Starbucks since May 2007. Prior to joining Starbucks, Mr. Bocian served in various
positions at NCR Corporation since 1983, most recently as Senior Vice President and Chief Financial
Officer from September 2004 until May 2007.
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