Mark Hurd, who was appointed as new chief of Hewlett Packard Tuesday, says he is ready to face challenges and would do his best to boost the company’s profits.

So far there is no plan for a possible turnaround of the company, and it would take some time to develop a strategy to boost the profits for the company which main profit comes from its ink-making division.

«Improving operations, creating demand for our technology and increasing shareholder value» will be the first priority for Hurd who replaced Carly Fiorina as the company’s chief executive and chairman. "We’ll look at the entire enterprise," he said. "I can’t give you any guarantees on anything."

Unlike aggressive Fiorina, Hurd is known to be very reasonable, keeping his eye on everything that is happening in the company and on the markets. Since he took over as NCR’s CEO in 2003, the company’s net income rose to $285 million from $58 million in 2003 - really not bad for the company that employs 28,000 people.

"Mark is an operator and likes to roll up his sleeves and work with his team and his customers and spend time with employees. To the extent he feels it’s appropriate to be visible, he will be -- but he focuses on getting the job done," said HP acting director Patricia C. Dunn.

Under the terms of the contract, Mr. Hurd Hurd will receive cash, stock and perks worth at least $20 million for taking the company. He will also receive a $2-billion signing bonus, as well as a $2.75 million cash "relocation allowance," 1.15 million stock options valued by the company at $6.9 million and 400,000 restricted HP shares worth about $8 million.