It seems that the HP board has once again decided to dump a CEO. This time Leo Apotheker has been shown the door after only being on the job for about a year. I guess if your stock value nosedives by 40% under your watch, you’re likely not to have a job for very long. In case you’re keeping score at home, he’s the third CEO to be fired at HP. In his place comes Meg Whitman who you might recall was the CEO of eBay. Here’s what she had to say:
“So I actually understand this space relatively well,” she told Reuters in an interview. “What I bring to this table is leadership, management skills, strategic vision, communications and an execution orientation to deliver the result.”
Whitman said HP remained committed to completing a review of its PC division before the year ends, and expected to close the pricey $12 billion acquisition of British software maker Autonomy Corp Plc as planned.
Good luck with that. Here’s why:
HP’s shares closed down 4.8 percent at $22.80, wiping out much of Wednesday’s 6.6 percent gain.
HP is a disaster at the moment. I don’t think Whitman isn’t going to be able to rescue this company. She’s free to prove me wrong, but I don’t think she will. I think it’s a safe bet that HP with continue to flounder and continue to sink out of relevance in the technology industry as they really can’t get their act together.
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This entry was posted on September 24, 2011 at 8:06 am and is filed under Commentary with tags HP. You can follow any responses to this entry through the RSS 2.0 feed.
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HP Dumps Apotheker As CEO And Names Whitman In His Place
It seems that the HP board has once again decided to dump a CEO. This time Leo Apotheker has been shown the door after only being on the job for about a year. I guess if your stock value nosedives by 40% under your watch, you’re likely not to have a job for very long. In case you’re keeping score at home, he’s the third CEO to be fired at HP. In his place comes Meg Whitman who you might recall was the CEO of eBay. Here’s what she had to say:
“So I actually understand this space relatively well,” she told Reuters in an interview. “What I bring to this table is leadership, management skills, strategic vision, communications and an execution orientation to deliver the result.”
Whitman said HP remained committed to completing a review of its PC division before the year ends, and expected to close the pricey $12 billion acquisition of British software maker Autonomy Corp Plc as planned.
Good luck with that. Here’s why:
HP’s shares closed down 4.8 percent at $22.80, wiping out much of Wednesday’s 6.6 percent gain.
HP is a disaster at the moment. I don’t think Whitman isn’t going to be able to rescue this company. She’s free to prove me wrong, but I don’t think she will. I think it’s a safe bet that HP with continue to flounder and continue to sink out of relevance in the technology industry as they really can’t get their act together.
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This entry was posted on September 24, 2011 at 8:06 am and is filed under Commentary with tags HP. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.