UPDATE: HP today announced that its board of directors has appointed Meg Whitman as president and chief executive officer. Other changes include Ray Lane moving to executive chairman of the board of directors from his previous role as non-executive chairman. The company said the changes are effective immediately, Léo Apotheker having stepped down as president and chief executive officer and resigned as a director of the company.
Whitman, formerly CEO of eBay, has been on HP’s board of directors for eight years, which Lane said ensured that she was familiar with the company’s products and markets. “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead,” he said in a statement. “Meg is a technology visionary with a proven track record of execution. She is a strong communicator who is customer focused with deep leadership capabilities.”
Lane thanked Apotheker for his 11 months of “efforts” and service on behalf of the board, adding that the board “believes that the job of the HP CEO now requires additional attributes to successfully execute on the company’s strategy.”
Additional reporting by Chris Marlowe.
Palo Alto, Calif. – Technology giant Hewlett-Packard (HP) is expected to name former eBay head Meg Whitman as its new CEO after the markets close on Thursday, according to multiple reports.
Whitman would replace Leo Apotheker, who has seen the company’s valuation cut nearly in half during his 11 months at the helm. HP has had seven CEOs since 1999.
Whitman, who lost her bid for California governor last fall, joined HP’s board of directors in January, and this past spring became a part-time advisor at venture capital firm Kleiner Perkins Caufield & Byers. She stepped down as eBay’s CEO in 2008 following 10 years at the helm.
This article was also published in New England Tech Wire.
AllThingsD – http://tinyurl.com/3qajnvb
Wall Street Journal – http://tinyurl.com/3vvkqok
Photo by Max Morse for Meg Whitman 2010, used under Creative Commons license