“Finally, there’s a question that some of your rivals have brought up, and that is Iran.” Wallace said. “At the time you were head of HP, there was a ban on any U.S. companies doing business with Iran. But while you were the head of the company, a European subsidiary of HP sold hundreds of millions of dollars of computer equipment to Iran.”
“The SEC ended up investigating HP for what it said was violation of the sanctions against Iran,” he continued. “How do you respond to that?”
Fiorina said in her defense that HP was “larger than each of the 50 states. It’s a larger budget than any one of our 50 states and a global enterprise. And so it’s impossible to ensure nothing wrong ever happened, the question is what do you do when you find out?”
“Are you saying you didn’t know about it?” Wallace asked.
“In fact, the SEC investigation proved that neither I nor anyone else in management knew about it…” she insisted. “When the company discovered this three years after I left, they cut off all ties. The SEC investigated very thoroughly and concluded that no one in management was aware.”
But Wallace continued to press her. “At the time, that company that was making the sales to Iran– and you were the CEO of HP at the time– was named HP’s wholesaler of the year… HP was calling it the wholesaler of the year, and you didn’t know what was going on?”
“The wholesaler of the year you were describing was doing business with another company that was doing business with Iran,” Fiorina defended herself. “Clearly that wholesaler of the year was not honest in their dealings with us…”
Watch, via Fox.
[Image via screengrab]
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