HP Fired CEO Apotheker, Replaced with ex eBay CEO Whitman
Hewlett-Packard fired its TouchPad, Palm Pre, WebOS, and PC killing CEO. Still following his failed plans.
Léo Apotheker “Resigned”
New York Times on firing of Léo Apotheker as HP president, chief executive officer, and director:
Hewlett-Packard named Meg Whitman, the former eBay chief executive, as its new leader on Thursday after a series of blunders by the company’s previous chief, Léo Apotheker, that prompted his departure only 11 months into his tenure.
Just last month, Apotheker basically devalued HP with his unexpected announcement that HP will abandon tablet, smartphone, and PC market. So it’s good that the board let go of HP’s CEO, President, and Director of the board. However, HP will continue to follow his failed strategy:
While Mr. Apotheker is going, his strategy, including consideration of spinning off H.P.’s personal computer business from other parts of the company, will remain in place.
Meg Whitman is eBay’s former chief executive from 1998 to 2008.
ObamaPacman: Well, OP already called HP delusional in Feb 2011 for believing it has any chance to compete with the iPhone or iPad. If the “modern” (sarcasm) eBay is the product of Whitman, then HP is doomed to turn into a bureaucracy that will be way out of touch with its customer base. No TouchPad fire sale will save HP from that outcome.
HP stock (HPQ) ended the day’s trading at $22.80 (-4.92%), near 52 week low. It’s also near a 5 year low.