HP appoints new President.
HP appoints new President and Chief Executive. The IT corporation has announced a replacement for Leo Apotheker the previous Presi dent, CEO and Director. The Board of Directors has ap pointed Meg Whitman as President and CEO of HP, while Ray Lane has moved from non-executive to execu tive Chairman.
Lane says: "We are fortunate to have someone of Meg Whitman's cal ibre and experience step up to lead HP. We are at a critical moment and we need renewed leadership to suc cessfully implement our strategy and take advantage of the market opportunities ahead."
Whitman has been a member of HP's Board of Directors for the past eight months and will now lead the firm in Apotheker's place. This is the second top job that Apotheker has left in two years - he was previously Chief Executive of SAP.
Lane continues: "We very much appreciate Leo's efforts and his serv ice to HP since his appointment last year. The board believes that the job of the HP CEO now requires addi tional attributes to successfully exe cute on the company's strategy."