HP names Meg Whitman as new CEO and President

HP has confirmed that it has hired Meg Whitman as its new CEO and President after rumors about Whitman being promoted in the company started hitting the Internet earlier this week.

The companys official press release says that the previous CEO, Leo Apotheker, officially stepped down from his post (although its likely that he was forced to resign by HP's board of directors). He was in the CEO position at HP for less than a year.

In addition to this news, HP has named Ray Lane to be the executive chairman of HP's board, replacing Meg. Whitman says in the press release, "I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world." Whitman was previously the CEO of eBay, and helped them grow from a startup to the online destination it is today.

Whitman has her work cut out for her as she takes charge of HP. The company is in turmoil thanks to the choices made in the past year, especially in the last few of months as it discontinued its extremely hyped HP TouchPad and announced it was no longer going to sell any more webOS-based hardware.

More importantly, HP announced that it was considering a plan to spin-off its enormous personal computing business -- still the biggest in the world -- into a separate stand alone company. It's unknown at this point if Whitman might decide to take HP in a new direction and have the company reconsider both its webOS hardware business as well as the HP PC spin-off idea. HP's stock price surged up in after hours trading on Whitman's CEO announcement.

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18 Comments

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Too little, way too late. When my toner cartridge needs replacing, HP will have been totally replaced by Canon. I've had enough of paying and expecting "Cadillac" service and getting "clapped-out Yugo" service.

Spot The Difference


Taken from the article:

Whitman was previously the CEO of eBay, and helped them grow from a startup to the online destination it is today.


Taken from the Forbes article. http://www.forbes.com/lists/2005/11/E9RY.html :

Since 1992, Carol Bartz, 56, has transformed Autodesk from an aimless maker of PC software into a leader of computer-aided design software, targeting architects and builders.

I think Meg Whitman gets WAY too much hate.

After all, she turned eBay from a 30 employee company to a 15,000 employee company.

That has to mean something.

DukeEsquire said,
I think Meg Whitman gets WAY too much hate.

After all, she turned eBay from a 30 employee company to a 15,000 employee company.

That has to mean something.

To be honest, it was basically the first internet auction site. Mr. Potato Head could have presided over the rise of eBay. (Which, incidentally, is what Whitman sold before being hired by them. )

I don't think this will help a bit.

Would she turn out like Carol Bartz?


Or more importantly, reverse the decision taken by Leo Apotheker?
That would be significant.

I hope she revives HP's consumer side, by bringing back the WebOS and HP's PC business.

FMH said,
Would she turn out like Carol Bartz?


Or more importantly, reverse the decision taken by Leo Apotheker?
That would be significant.

I hope she revives HP's consumer side, by bringing back the WebOS and HP's PC business.

But Leo's decision to do that must have come with the board's approval. If she reverses those decisions, then it would show that it is the board that doesn't know what it's doing. Investor confidence would be even lower.

asdavis10 said,

But Leo's decision to do that must have come with the board's approval. If she reverses those decisions, then it would show that it is the board that doesn't know what it's doing. Investor confidence would be even lower.

The board doesn't know anything!
Leo Apotheker also came with their approval!

There is no investor confidence to get low.

http://blogs.wsj.com/deals/201...-worst-board-ever/?mod=e2tw

About my last comment; I don't intend to be rude or offensive to you, even if it sounded a bit.

Just mad at HP board. Feels like another wrong move.

FMH said,
About my last comment; I don't intend to be rude or offensive to you, even if it sounded a bit.

Just mad at HP board. Feels like another wrong move.

No offense taken. And it is another wrong move.

For **** sake... first it was Carly, then they ditched Hurd for something frivolous that should have been put under the carpet and never spoken about. Then Apotheker made "an IBM" move without the IBM's background and resources to give them credibility. Now Whitman...

I don't like HP's computers or printers for that matter... but it is sad to watch a train wreck in slow motion.

Atreus said,
For **** sake... first it was Carly, then they ditched Hurd for something frivolous that should have been put under the carpet and never spoken about. Then Apotheker made "an IBM" move without the IBM's background and resources to give them credibility. Now Whitman...

I don't like HP's computers or printers for that matter... but it is sad to watch a train wreck in slow motion.

This is a high-impact chain-reaction collision. It's just lasted for 12 years.

warwagon said,
Well, on the plus side, she can't do any worse.
Carol Bartz teaches us, that things can be made a lot worse, than they are.

I believe her.

Congrats to her!

I hope things at HP start to improve, ive been using their hardware for many years for all our clients, and only recently has their service started to take a down turn.

M_Lyons10 said,
Sounds good to me. HP needs some sort of shakeup. Hopefully this is only the beginning.
Shake-up? Haven't they had enough already?

M_Lyons10 said,
Sounds good to me. HP needs some sort of shakeup. Hopefully this is only the beginning.

Yes, this was needed. I said from the beginning that Apotheker wasn't a good hire, and I have no idea why the HP board at the time thought it was. They had tons of great internal candidates -- many of which have since left the company. Just a bonehead move all around.