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Meg Whitman Is HP’s New CEO

Hannah Madans |
September 22, 2011 | 1:21 p.m. PDT

Associate News Editor

Meg Whitman (courtesy Creative Commons)
Meg Whitman (courtesy Creative Commons)
After a meeting of Hewlett-Packard’s board Thursday, Meg Whitman was named CEO, the Associated Press reports.

HP’s board met Wednesday to discuss CEO Leo Apotheker’s ousting after a mere 11 months as CEO, The Daily Beast reports.  The board met again Thursday.

During Apotheker’s time as CEO HP saw disappointing earning, falling stock and falling stock prices. Apotheker also announced plans that were viewed unfavorably such as splitting off the personal-computer business and spending $10.3 billion to buy the software company Autonomy Corp., The Daily Beast reports.

The board approved the plan, but investors did not like it and HP’s stock fell around 20 percent. Apotheker cancelled webOS and a line of tablets and smart phones after a mere six weeks on the market.

Apotheker is HP’s third CEO dismissed in six years.

Whitman has been a member of the HP board since January, according to the New York Times. She ran eBay as it grew into a major online retailer and left right when the company’s growth began to stall. She has also been a strategic adviser for a venture capital firm. She unsuccessfully ran for governor.

Reach associate news editor Hannah Madans here.

 

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