HP Names Whitman CEO, President
Steve Smith -- TWICE, 9/22/2011
UPDATED! Palo Alto, Calif. - The Meg Whitman era has begun at Hewlett-Packard, with the embattled company naming her president/CEO.The announcement came as soon as the financial markets closed in New York this afternoon.
In addition, Ray Lane has moved from non-executive chairman to executive chairman, and the board intends to appoint a lead independent director promptly.
"These leadership appointments are effective immediately and follow the decision that Leo Apotheker step down as president and chief executive officer and resign as a director of the company," HP said in a statement.
Apotheker was CEO of HP since Nov. 1, 2010, and the stock reportedly went down more than 40 percent since that time.
So far HP's decisions to exit the PC, tablet and WebOS businesses may still happen. Whitman, in a conference call an hour after the announcement, said the "strategy of Aug. 18 was right," and that the current management plan includes the spinoff of the Personal Systems Group, its PC business.
She noted, "We expect the board to make a determination by the end of the quarter." And she noted that the plan still includes to "investigate options to recognize the value of webOS software."
Talkback
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HP... Clueless... Again a CEO is picked that does not have a dynamic personality or any tech leadership skills. Just another CEO that will either trigger a reorganization which will muddy the waters (already happening), put the employees on a pay/promotion freeze or reduction to temporarily boost profits or cut staff (same effect, a short term profit increase). What HP needs is a CEO with a vision and the guts and energy to make it happen. I would not be surprised if HP employees are updating their resumes getting ready for another HURD like debacle.
HPWorker - 2011-23-9 11:39:21 EDT -
Instead of politically motivated seething. Look for stability, Leo was the super tech intellectual, one area focused expert, trying to mold the company into his expertise, not mold his talents to run the company. Let's see what looking at the big picture with reality does. WebOS is a good idea, and needs to continue, but may have already suffered death blow by announcements of demise. If they could morph it into simplicity instead of complexity make it work in simple but elegant ways from desktop to mobile device, do the basics well, it could be a home run.
The Selfthinker - 2011-23-9 06:08:45 EDT -
I will echo the previous comments. Who does she know to take this job? The board has shown that it can't pick a CEO to save it's own life. If I was a major shareholder I would be asking for their heads.
Mark Fitch - 2011-22-9 18:06:37 EDT -
Is HP doomed? This will be another debacle. What does she know about what HP does? She rode Ebay up as it was a new operation, then bailed when it got tough, with competition. HP could be doomed. This woman makes such fine choices as to spend a fortune of her own money to run for political office and LOOSE, she certainly is not a clear thinker. she's playing. She is another Firorina disaster! HP, gone.
CEDUP - 2011-22-9 17:22:39 EDT -
I guess running the world's largest on line garage sale site qualifies one to run a high technology company like HP. Perhaps they will have an HP auction site soon! Bid on a PC and get a free beanie baby with your high bid. Let's see how long it takes for the stock to go down another 40
Henry - 2011-22-9 17:00:42 EDT
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