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Entries in Leo Apotheker (2)

Thursday
Sep222011

HP CEO May Be Ousted for Former eBay Boss

Ralph Orlowski/Getty Images(NEW YORK) -- Rumors of the ousting of Hewlett-Packard CEO Leo Apotheker drove the tech company’s stock up over seven percent when deliberations among the company’s board of directors leaked in published reports.

The notion of ousting Apotheker and potentially replacing him with former eBay CEO Meg Whitman seemed to please investors Wednesday, who along with a number of analysts believe that the company is in dire need of a shake-up.

Apotheker has been head of the struggling Silicon Valley company since November of 2010, and since he took control, HP’s stock has slipped nearly 50 percent.

Before his current position heading HP, Apotheker was the CEO of business software engineer SAP AG, beginning in April 2008, but he was forced out of that position less than two years later.  When he came on board as CEO at HP it was theoretically to steer the company away from controversy that included the departure of former CEO Mark Hurd, which was tinged with a sexual harassment lawsuit.

Apotheker has said that during his reign HP has been hindered by Hurd’s under-investment.  Still, Apotheker received wide criticism for his decision-making in selling HP’s personal computer division.  Many feel that Apotheker waffled over selling the business outright or holding it after an auction to gauge interest.

Potential HP replacement Whitman’s back story could prove controversial as well.  The former eBay CEO resigned in 2008 after 10 successful years with the company.  She did, however, just spend well over $100 million in an unsuccessful Republican campaign for California governor in 2010 -- shelling out more than any candidate for a statewide office in U.S. history.

On Wednesday, HP shares rose $1.65, or 7.3 percent, to $24.12.

Copyright 2011 ABC News Radio

Thursday
Feb242011

Hewlett-Packard Reports Dismal Growth

Photo Courtesy - Ralph Orlowski/Getty Images(PALO ALTO, Calif.) -- Hewlett-Packard Co. released a statement Tuesday showing disappointing growth in the face of poor consumer demand.

The Palo Alto-based computer giant reported a $1.21 per share profit, which disappointed investers hoping for $1.26. HP stock fell 9.6. percent at the New York Stock Exchange Tuesday afternoon in spite of reported 3.5 percent growth this year.

The report comes as an unfortunate close to Leo Apotheker's first quarter as chief executive officer. Apotheker is slated to present a renewed vision for the company at a strategy conference in San Francisco on March 14.

Apotheker took the helm of the company from Mark Hurd, whose resignation last August was prompted by a sexual harrassment scandal.

Copyright 2011 ABC News Radio







ABC News Radio