Could Meg Whitman replace Leo Apotheker as CEO of technology
giant HP (NYSE:HPQ)? It’s entirely possible.
A report
from Bloomberg today cites two people familiar with the matter and says
that HP’s board is meeting to consider ousting HP CEO Leo Apotheker less than a
year after he took over as CEO. The
Wall Street Journal reports the meeting will be held today.
Last week it was HP
Board Chairman Ray Lane who was fielding reporter questions about HP’s
strategy and messaging.
Meg Whitman, who is a new addition to the HP board, has been
floated as a possible replacement for Apotheker, at least on an interim basis.
If HP ousts Apotheker, the move would come just a month
after Apotheker announced sweeping changes to HP’s strategy, including a plan
to pay $10.3 billion for software company Autonomy, discontinue its tablet
production effectively hobbling its WebOS strategy, and potentially spin off
its PC business. HP is number on in market share in the PC business.
Earlier in the week reports surfaced of HP plans to cut 500
from its webOS division.
Apotheker has also presided over three quarterly reports
that did not meet expectations.
HP shareholders seemed to approve of the rumored management
switch at the top, pushing share prices up 10 percent after the news was first
reported.
Apotheker's employment contract calls for him to get a $9.4 million golden parachute.
Hewlett-Packard 
