HP mulling expelling CEO Apotheker
Sources close to the matter said Wednesday that another CEO ouster at Hewlett-Packard (HPQ) is on the cards, as the electronic giant’s board is seriously considering giving former eBay CEO Meg Whitman the interim CEO position.
However, HP spokesperson Mylene Mangalindan simply refuse to talk about the issue, asserting that HP "doesn't comment on speculation."
Whether eBay’s ex-CEO Meg Whitman, who is also a California governor candidate is interested or has given her consent on assuming office is yet not known.
Amid all speculations, the company’s share gained $1.51, as Wall Street welcomed the news.
Apotheker's incumbency at HP
During Apotheker's less than a year term at HP the company shares suffered almost 44 percent.
Also, Apotheker's aim to shift HP’s vision away from its current personal computing was criticized.
As HP has seen CEO ousters thrice in the past six years, tech analyst Rob Enderle says, "Companies like HP are measured on stability, and their big corporate clients expect them to provide reliable road maps out several years," he said. "If the firm can't even assure a CEO can last a year, it can't provide the stability the market wants."
Carly Fiorina and Mark Hurd, HP’s ex-CEOs, both faced a similar fate as Apotheker and were shown the door soon.
But as Meg Whitman has guided eBay for nearly 10 years, investors believe that HP will perform better this time.