What Now for HP and Apotheker?

By Jessica Davis  |  Posted 2011-09-21 Email Print this article Print
 
 
 
 
 
 
 

HP's board is reportedly meeting to consider an ouster of CEO Leo Apotheker less than a year after it hired him.

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.

 

 
 
 
 
 
Jessica Davis covers the channel for eWeek and Channel Insider. Her technology journalism career began well before anyone heard of the World Wide Web and has included stints at Infoworld, Electronic News/EDN, and the Philadelphia Business Journal. Her work has also appeared on CNN and Forbes.com. She has covered hardware, software and networking, as well as the business side of technology. She has won several journalism awards, including a national ASBPE award for best staff-written column, and was named Marketing Computers hardest working tech journalist on their inaugural list of top tech journalists. Jessica can be reached at jessica.davis@ziffdavisenterprise.com
 
 
 
 
 
























 
 
 
 
 
 

Submit a Comment

Loading Comments...
























 
 
 
 
 
 
 
 
 
Thanks for your registration, follow us on our social networks to keep up-to-date