Technology giant Hewlett-Packard Co. announced that Ms Carly Fiorina had been named its president and chief executive, succeeding Mr Lewis Platt, who plans to retire at year's end.

Ms Fiorina previously was president of Lucent Technologies' Global Service Provider Business unit, the telecommunications firm's largest and fastest growing division, with more than $20 billion in annual revenue, the computer and technology group said in a statement.

Mr Platt will remain chairman until December 31st, at which time Mr Richard Hackborn, a member of the board of directors, will become the company's non-executive chairman, the company said.

Ms Fiorina (44) brings nearly 20 years of broad technology and telecommunications experience at Lucent and AT and T, and a demonstrated track record of successfully growing large businesses, Hewlett-Packard said.