HP treasurer to retire

Hewlett-Packard said Thursday that Treasurer Larry Tomlinson will retire next month after 38 years with the company. Tomlinson will be replaced by Cathie Lesjak, a 17-year HP veteran who now serves as vice president of finance for the company's software unit.

"Larry has made many important contributions throughout his distinguished career at HP," company CFO Bob Wayman said in a statement. "As treasurer, he has provided world-class services and ensured a smooth integration of HP and Compaq's treasury operations." The treasurer is responsible for administering HP's cash holdings as well as managing the company's debt, foreign exchange, capital structure, risk management and benefits.