Tim Cook denies rumors of heading to HP
updated 12:20 pm EDT, Tue September 28, 2010
Company still hunting for Hurd replacement
Apple's chief operating officer, Tim Cook, has denied a rumor he is considering the CEO position at HP, according to Gleacher & Co. analyst Brian Marshall. The earlier claim led to a drop in Apple stock on Tuesday morning, although prices have since rebounded. Marshall explains that he later ran into Cook in Palo Alto asked him about the matter. "Tim Cook will not be going to HP, he loves Apple," says Marshall.
HP is continuing to search for a replacement for Mark Hurd, who left the company suddenly following accusations of sexual misconduct. The executive now works as co-president at Oracle. Cook joining HP would have potentially serious ramifications for Apple, since the COO is considered nearly as essential to the company as CEO Steve Jobs; Cook in fact assumed control while Jobs was on a 2009 medical leave. He is also believed to be the most likely successor to Jobs should the latter retire or die prematurely.
Grizzled Veteran
Joined: Jul 2004
Stock manipulation.
Even though the rumor has been denied, the stock is still dropping.
The person who planted the rumor must have shorted AAPL.