Business News
HP Inc. Names Aida Alvarez to Board of Directors
Monday 22. February 2016 - HP Inc. (NYSE: HPQ) today announced the appointment of Aida Alvarez to its board of directors, effective immediately. The addition of Alvarez further strengthens the diverse bench of senior talent helping to govern HP. The company's board now includes five outstanding female leaders, representing 38% of its composition, positioning HP with the most diverse board in the tech sector.
Alvarez, former administrator of the Small Business Administration (SBA) and current board member of Walmart Stores, Inc. brings a wealth of expertise in media, public affairs, finance and government.
“Aida is a tremendously talented individual with unmatched experience spanning both public and private sectors. Our board, company, shareholders and ultimately our customers will benefit from her diverse background, financial acumen, and ability to guide and govern large institutions. My fellow directors and I are thrilled to welcome Aida to the HP family and look forward to working with her as we Keep Reinventing HP,” said Meg Whitman, Chairman of HP Inc.
“HP has always led the industry with a culture of innovation and diversity. We are proud to continue that leadership with a diverse range of expertise, gender and cultural perspectives,” said Raj Gupta, lead Independent Director of HP and former Chairman of Rohm and Haas Company. “Today’s announcement helps support what we have been architecting — to ensure we are reflective of the markets and customers we serve, starting at the very top.”
About Aida Alvarez
Alvarez has had a successful career as a news reporter, investment banker and public servant. She was the first Latino woman to hold a United States cabinet-level position as the administrator of the Small Business Administration during Bill Clinton’s presidency from 1997 to 2001.
From 1993 -1997, Alvarez entered the Clinton administration as the first director of the Office of Federal Housing Enterprise Oversight. In this role, she built the agency from the ground up, and assured the capital adequacy and financial safety of the nation’s largest housing finance institutions, Fannie Mae and Freddie Mac, a then-trillion dollar secondary mortgage market.
She also has more than a decade of experience in corporate finance, working as a vice president of Public Finance for both Bear Stearns in 1985 and First Boston in 1988. From 1984 – 1985, Alvarez served as vice president Public Affairs of the New York City Health and Hospitals Corporation, where she directed public and community affairs for the nation’s largest public health care system. Alvarez began her career as a reporter for the New York Post in 1973.
Alvarez currently serves on the board of directors at Walmart, where she sits on the Compensation, Nominating and Governance, Technology and eCommerce committees. She was on the boards of PacifiCare, now part of United Health, and MUFG Union Bank. She also served on the Diversity Advisory Board for Deloitte & Touche. In the nonprofit sector, Alvarez chairs the Latino Community Foundation of San Francisco, serves on the board of the San Francisco Symphony and is a commissioner for the Smithsonian American Art Museum in Washington, D.C. She was also previously a member of the Harvard Board of Overseers.
She holds a Bachelor of Arts degree with cum laude from Harvard College, and honorary doctorates from Bethany College, Iona College, Mercy College and the Inter-American University of Puerto Rico.