HP Announces New President & CEO

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HP (, technology giant, made an announcement on Thursday that its board of directors has named former eBay CEO Meg Whitman the company’s new president and CEO, following previous CEO Léo Apoteker announcing his resignation.

The appointment comes less than a year after Apotheker was named HP’s CEO and president. He replaced then interim CEO Cathie Lesjak after Mark Hurd stepped down following an investigation into alleged sexual harassment and filing inaccurate expense reports.

Whitman has been on HP’s board of directors for the past eight months. She recently ran in the 2010 California Governor election, but eventually lost to Jerry Brown.

In addition to stepping down as president and CEO, Apotheker also resigned as director. HP’s board has named an independent director whose name has not yet been disclosed.

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“[HP is] fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP,” said Ray Lane, the board’s newly appointed executive chairman. “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead.”

Lane continued by stating that while the board appreciated Apotheker’s efforts at the company in the past year, they believed that the position required “additional attributes to successfully execute on the company’s strategy.”

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