HP Names New President and CEO

HP HAS replaced their old CEO/President and put in a new one. Here is a story from Engadget.

Well, after less than a year on the job as HP’s top dog Léo Apotheker is out. The former eBay CEO and one time candidate for California governor Meg Whitman is in. The move was hardly unexpected, but it very quickly evolved quickly. It was initially expected that Whitman would only be stepping in as an interim solution — just another person passing through the revolving door at the entrance to the CEO’s office. But, Whitman, a current board member, is in for the long haul. She’s stepping in at a crucial and somewhat difficult time for the company that has seen its stock price plummet 47 percent, its $1.2 billion mobile OS flounder and is considering spinning off its PC business. She is no stranger to controversy (simply refer to her short tenure with Goldman Sachs) and was an integral part in growing eBay from a startup with just a couple of dozen staff members to one of the most popular destinations on the internet — so, at least she’s accustomed to having a few curve balls thrown her way.

In a statement, Whitman said, “I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world.” The company also announced today that Ray Lane is moving from a non-executive chairman role to executive chairman of the board of directors, and that the board intends to appoint a lead independent director “promptly.” HP’s press release and some information from the company’s investor call announcing the decision are right after the break.

End of article.

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