HP board ready to fire CEO Apotheker

Written by Andre Yoskowitz @ 21 Sep 2011 12:18 User comments (1)

After just one year on the job, it appears the board of HP is about ready to fire the CEO Leo Apotheker.

In one possible scenario, Apotheker would be replaced by former eBay CEO Meg Whitman, likely in an interim situation.

The current CEO has only had 11 months on the job and has lost HP $20 billion in market value while slashing sales forecasts three times.

Following the news of the board's possible decision, the HP stock jumped 8 percent, with investors clearly happy with the news.

Apotheker, who had a failed stint as CEO of software giant SAP, has recently purchased Autonomy for $10 billion, a move that has been completely criticized by all shareholders due to its huge price tag. The CEO also shut down webOS and firesaled their tablets at $99, just a few months after the company's acquisition of the mobile OS from Palm.

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123.9.2011 00:30

pmshah

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I think "Apotheker" should have stuck to the family business - as suggested by his name - to being a pharmacist. Or perhaps he was not smart enough to qualify.

From what I have read in some of the published reviews WebOS could run 32 applications simultaneously without slowing down. From my first hand experience I can also state that they HAD the best touch screen around, bar none. The footprint of the installed software was the smallest I have ever seen.

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HP board ready to fire CEO Apotheker

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