Hewlett-Packard’s board will most likely oust current CEO
Leo Apotheker. According to James Bandler and Matt Vella of Fortune via CNNMoney.com, “a person familiar with the matter” stated the board would
consider Meg Whitman as the permanent replacement. Meg Whitman is best remembered as former eBay CEO and is
currently a HP director.
Apotheker has been CEO for less than a year, but lately
investors haven’t been happy with the company’s confusing communication on its
future strategy. The company recently announced that it was restructuring. It
would discontinue its TouchPad, WebOS, and consider getting out of the PC
business. After the announcement, the company released a desktop, continued
TouchPad marketing, and announced it would resurrect the TouchPad (although
it’s clearly liquidating remaining product). All of this is a completely different from the WebOS and
TouchPad vision supported by the CEO when he first arrived.
News of the potential ouster and replacement by Whitman led
HP’s stock up 8%. This is compared
to the 40% decrease in the stock value within the year.
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