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HP: Xerox proposes new candidate for board

( - Xerox is now proposing the nomination of 12 candidates to HP's board of directors, on which it hopes to get a grip at its next AGM.

After increasing from 11 to 12 members on HP's board of directors, Xerox has decided to propose HP's shareholders the election of Erroll Davis, the former boss of Alliant Energy Corporation, an energy group based in the Midwest.

This executive, presented as "independent" and "highly qualified," has served on the boards of General Motors, PPG Industries and BP, Xerox says.

Xerox has so far nominated 11 candidates, including Betsy Atkins, a businesswoman who was one of the first investors in Yahoo! and eBay.

This move comes alongside the hostile takeover bid that Xerox recently launched on HP, an approach that has been repeatedly rejected by the Californian IT company.

HP's general meeting will be held on 1 April.

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