HP Names New President and CEO as Apotheker Steps Down

HP Names New President and CEO as Apotheker Steps Down

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Palo Alto, CA—HP’s board of directors appointed Meg Whitman as president and chief executive officer. In addition, Ray Lane was moved from nonexecutive chairman to executive chairman of the board of directors.

These leadership appointments are effective immediately and follow the decision that Léo Apotheker step down as president and CEO as well as resign as a director of the company. The board also intends to appoint a lead independent director promptly.

“We are fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP,” said Lane. “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead. Meg is a technology visionary with a proven track record of execution. 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.”

Whitman commented, “I am honored and excited to lead HP. I believe HP matters—it matters to Silicon Valley, California, the country and the world.”

Speaking on behalf of the board, Lane added, “We very much appreciate Léo’s efforts and his service to HP since his appointment last year. 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.” hp.com

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