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Proxy Adviser Opposes Re-Electing H-P Chairman Lane

A major proxy-advisory firm urged Hewlett-Packard Co. (HPQ) shareholders to oppose the re-election of Chairman Ray Lane and two other directors, citing a failure of supervision in connection with the company's $11 billion acquisition of U.K. software company Autonomy.Institutional Shareholder Services, which advises big investors how to vote in corporate elections, criticized Mr. Lane and H-P's two longest-serving directors, John Hammergren and G. Kennedy Thompson, for how the big computer maker handled the 2011 deal.A rival proxy adviser, Glass, Lewis & Co., split from ISS and supported Mr. Lane's re-election. Glass Lewis, however, agreed that Messrs. Hammergren and Thompson should lose their seats, and also recommended that shareholders vote against two others: Rajiv Gupta, lead independent director and a former CEO of Rohm & Haas Co.; and Marc Andreessen, a prominent venture capitalist who heads the board's technology committee.The moves raise the pressure on H-P's board ahead of th...

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