hwy120

Meg Whitman Replaces Apotheker as HP CEO

Whitman, for her part, is used to the spotlight. She has held key executive positions at some of America's most well-known brands, including eBay, Disney, Stride Rite, FTD and Hasbro. She is credited with steering eBay through the dot-com rise and fall, and avoiding the crash and burn that was the fate of so many of its contemporaries.

 It's no surprise since someone from Hewlett-Packard's board seems to have leaked the information in advance, but Meg Whitman was appointed as president and CEO of the technology  giant Thursday.
And that's not the only movement in HP's elite executive ranks. HP also revealed that Ray Lane has transitioned from non-executive chairman to executive chairman of the board of directors. The board intends to appoint a lead independent director promptly.

These moves come after former SAP CEO Léo Apotheker stepped down as president and CEO and resigned as a director of the company. Apotheker was installed 10 months ago to replace the previous CEO, Mark Hurd, who was fired amid allegations of misconduct. Hurd had replaced Carly Fiorina.

HP Defends Whitman Appointment

"We are fortunate to have someone of Meg Whitman's caliber and experience step up to lead HP," Lane said. "We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead."

Whitman, for her part, is used to the spotlight and HP is defending her as the latest choice for its top spot. She has held key executive positions at some of America's most well-known brands, including eBay, Disney, Stride Rite, FTD and Hasbro. She is credited with steering eBay through the dot-com rise and fall, and, avoiding the crash and burn that was the fate of so many of its contemporaries.

"Meg is a technology visionary with a proven track record of execution," Lane said. "She is a strong communicator who is customer -focused with deep leadership capabilities. Furthermore, as a member of HP's board of directors for the past eight months, Meg has a solid understanding of our products and markets."

When Whitman joined eBay in 1998, it had 30 employees and $4.7 million in revenues. In 10 years, she grew the company to nearly $8 billion in revenues with 15,000 employees worldwide. Whitman later ran for governor of California and lost.

"I am honored and excited to lead HP," Whitman said. "I believe HP matters -- it matters to Silicon Valley, California, the country and the world."

Analyst: Whitman Is a Terrible Choice

Not everyone believes Whitman is a match for HP. Although she earned respect for her feats at eBay, managing HP is a far cry from managing a rising e-commerce giant. Zeus Kerravala, vice president at Yankee Group, said Whitman was a terrible choice for HP.

"At a company like HP, you have to manage  costs. You need a lot of enterprise  experience. You grow through acquisition, not organically. The biggest acquisition Meg did at eBay was Skype, and that didn't exactly work out for eBay," Kerravala said. "It's a different skill-set requirement. I don't know if it's her name they are going after, but I would think somebody in the enterprise services space would be a better fit."

Kerravala is also concerned that Apotheker had such a small window of opportunity. The bright spot for Apotheker, he said, is that it appears his departure was a philosophical change among the board, so few will declare him a bad CEO or a good CEO for HP.

"We very much appreciate Léo's efforts and his service  to HP since his appointment last year," Lane said. "The board believes that the job of the HP CEO now requires additional attributes to successfully execute on the company's strategy.

"Meg Whitman has the right operational and communication  skills and leadership abilities to deliver improved execution and financial performance."

Wireless Business Solution Zee Tawasha