HP named Meg Whitman the company CEO minutes after the HP Board of Directors fired previous CEO Leo Apotheker. Apotheker stepped in as HP’s CEO just 11 months ago in the wake of Mark Hurd’s removal.
Leo was ousted after a series of blunders. To me Leo wasn’t even given a chance and to make matters worse he had no understanding of HP’s business.
Meg Whitman is a good CEO choice even if temporary. With Ray Lane becoming and active executive chairman expect Meg to be on a short leash. Some are saying that Meg isn’t the right person for the CEO job at HP. They are wrong. I think that she is perfect. Meg is in between gigs and after her failed attempt at Governor (although she made a good run) she needs something to hang her hat on. That would be the easy turn around at HP. Believe me turning HP around is a piece of cake. In addition, Meg gets technology and the political scene. This will help her navigate the political minefield that lays all around at HP.
I’ve called it here again. Meg will work out. Watch. I know that we will be. First order of business don’t sell PC division and get rid of Autonomy deal. Then rally the troops and get some great products out the door asap.
Fun times!!!!
Here is HP press release
HP Names Meg Whitman President and Chief Executive Officer
Ray Lane appointed executive chairman; Léo Apotheker steps down as president, chief executive officer and director
HP today announced that its board of directors has appointed Meg Whitman as president and chief executive officer.
In addition, Ray Lane has moved from non-executive chairman to executive chairman of the board of directors, and the board intends to appoint a lead independent director promptly. These leadership appointments are effective immediately and follow the decision that Léo Apotheker step down as president and chief executive officer and resign as a director of the company.
“We are fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP,” said Lane. “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead. 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. Furthermore, as a member of HP’s board of directors for the past eight months, Meg has a solid understanding of our products and markets.”
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.”
Speaking on behalf of the board, Lane said, “We very much appreciate Léo’s efforts and his service to HP since his appointment last year. The board believes that the job of the HP CEO now requires additional attributes to successfully execute on the company’s strategy. Meg Whitman has the right operational and communication skills and leadership abilities to deliver improved execution and financial performance.”
