Rumors have been flying around for a few days that computer giant HP was looking to shed their CEO Léo Apotheker. Here at Techcitement, we try to avoid rumors, but the impact of this one was enough to cause HP’s floundering stock to spike up. That was not a good sign for Apotheker.
Low and behold, after close of market yesterday, HP announced that they would be installing Meg Whitman, she of eBay fame, as their new CEO. Whitman is an experienced company helmsperson, who you may or may not be a fan of, as she has a tendency to be polarizing. However, she’s certainly more of a known quantity for the board, having served on it since January of this year, than Apotheker. An article in the NY Times alleged that they never even met Leo before hiring him, which is kind of insane when you think about it.
Those hoping for a sudden about-face on HP’s possible spinning off of their computer systems group and/or a return to manufacturing WebOS devices shouldn’t hold their breath though. So far HP and Whitman have said they will continue to consider what to do with both lines. The only change is that the new CEO says it will happen faster.
Not shown - the door hitting him on the way out. Photo Credit: The Daily Beast.
Considering how the stock improved when this was just a rumor, I can’t wait to see how HP does today.
[…] Systems Group, the division that makes HP the world’s number one PC manufacturer. Now, after a CEO change, and completing an “evaluation of strategic alternatives” for PSG, the company’s changed its […]