New HP CEO Meg Whitman, hats off to the Harvard educated, former eBay CEO, for being named the new CEO of Hewlett-Packard. HP has had a checkered past when it comes to CEO’s. The most recent, Leo Apotheker didn’t even last a year on the job. Apotheker replaced Mark Hurd a little over a year ago, who resigned with a hefty $33.9 million compensation package amid alleged sexual harassment charges. Enter Apotheker, after HP had already acquired Palm which laid the path towards HP’s own ecosystem. When HP launched its first tablet named HP TouchPad Apotheker was the CEO, and in April HP announced it was out of the mobile business, losing the company a huge amount of money.
Whether or not Apotheke was solely responsible he had to go, setting the stage for Meg Whitman. Whitman has been a top level executive since the 1980’s, when she was with The Walt Disney Company. For ten years Whitman served as President and Chief Executive Officer of eBay, during her ten years with the company she oversaw expansion from 30 employees and $4 million in annual revenue to more than 15,000 employees and $8 billion in annual revenue. Most people know her for her spending over $144 million dollars of her own money attempting to become the next Governor of California, she lost. Now she’s a CEO, a current board member, has a lot to straighten out. Stock price has gone down the drain 47 percent losing $1.2 billion on their mobile OS mishap.
Whitman has made feelings clear, “I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world.” Another move, Ray Lane is getting bumped up from a non-executive chairman role to executive chairman of the board of directors.
Source: engadget thisismynext
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