Roger Kay, principal analyst with Endpoint Technologies Associates, said IBM is an example in how an established, top-tier company that hits a difficult point can revive itself. However, HP is faced with a particular hurdle if it wants to follow IBM’s lead; Big Blue, even throughout its tough years, continued to invest in research and development. However, starting under CEO Carly Fiorina’s (B)tenure and accelerating under her successor, Mark Hurd, R&D investment was drastically reduced, hampering innovation at the company and cutting it off from its legacy.