According to the Wall St Journal Hewlett-Packard Co. fired Leo Apotheker after 11 months as its chief executive and appointed former eBay Inc. chief Meg Whitman in his place, a change unlikely to quell the turmoil that has engulfed one of the world's largest technology companies.
H-P ousted CEO Leo Apotheker and replaced him with Meg Whitman, but it won't immediately back away from Apotheker's strategy to separate the PC business. Don Clark and Spencer Ante discuss on The News Hub.
Numerous questions remain over H-P's strategy, including its plan to possibly spin off its mainstay personal-computer business. But in a conference call to reintroduce Ms. Whitman to Wall Street, analysts questioned her selection and the board's search process. H-P's chairman, Ray Lane, was asked whether the board was rushing to judgment, as critics say they did by hiring Mr. Apotheker last year after firing his predecessor.
Mr. Lane strongly defended the choice of Ms. Whitman and the board's decision not to conduct a formal CEO search. He said that H-P still had the results from the search following former CEO Mark Hurd's ouster last year and that the company considered several internal candidates. He said when Ms. Whitman, who was eBay's CEO for a decade until 2008 and joined H-P's board earlier this year, agreed to take the job, there was no need to look anymore. "If we thought there was a better choice outside, we would have conducted the search," Mr. Lane said…
Find out more at http://online.wsj.com/article/SB10001424053111903703604576586753827390510.html#ixzz1Ykppd1Vl
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