HP recruits Leo Apotheker as CEO

HP today hired SAP's co-chief Leo Apotheker as its replacement CEO. The change debunks rumors of an internal-only hire and brings in a 20-year veteran from the business app maker as well as a former member of the frequent tech investment group KPCB. Apotheker will come onboard with new board chairman, KPCB Managing Partner Ray Lane, on November 1.

The decision was made as the new leader was a "strategic thinker" and had the "operational discipline" that led SAP to double-digit growth for several years.

Apotheker's appearance was necessary after the abrupt resignation of Mark Hurd in August. The now Oracle president had left after he was accused of both having an 'improper' relationship with a contractor and misusing expenses to support and cover up the activity.

HP is currently facing a mixed environment. Although still in the lead in both world and local PC market share, it has been losing ground this year and may be facing an industry-wide sales slump as most vendors, except for Apple, are lowering their computer shipments. Netbooks have been hard hit in recent months as the iPad may have been slowing netbook sales that have become an important part of HP's business.

By Electronista Staff