HP Board to Consider Kicking CEO Leo Apotheker to the Curb

Leo Apotheker, CEO of Hewlett Packard, may soon have to look for a job. Apparently HP's board isn't real stoked about the way Mr. Apotheker has been running things since he was put in charge less than 11 months ago, and there's going to be a meeting to discuss his future -- or lack thereof -- with the company.

According to a Bloomberg report, HP's board of directors might end up handing the CEO position on an interim basis to Meg Whitman, who previously served as CEO of eBay. The move would come on the heels of a dramatic shift in strategy by HP, one in which the company has abandoned webOS hardware and made plans to spin-off or sell its Personal System Group (PSG) division. These are both questionable moves, and combined with HP's stock taking a nosedive to the tune of 47 percent during his tenure, the board appears ready for a change.

It seems investors are more than open to the idea as well. After Bloomberg reported the possible ousting of Apotheker, HP's stock jumped 6.1 percent. Part of that can be attributed to HP's $10.3 billion acquisition of Autonomy Corp., a big sum that, along with the overall shift in strategy, has investors spooked about HP's future.

If Apotheker is shown the door, he will have barely outlasted his time as CEO of SAP, in which he served in that role for 10 months.
Via:  Bloomberg
OptimusPrimeTime 3 years ago

"HP is going through a disaster, with what confidence will people buy the HP Pavilion Elite H8 1050 that came out on top in yesterdays Back To School round up? Anyhow, All this because of the Ipad?' 

realneil 3 years ago

He doesn't have a large enough investment of his ~own money~ in HP to keep him moving conservatively.

Why should he care if ~other people~ lose money? He can just be a "Cowboy" and try new and exciting ideas! Wheee!!

omegadraco 3 years ago

@realneil I agree completely with that statement. Also what does he care if he gets let go I am sure he will end up with a huge severance package.

@Optimus Do you think this really is all because of the iPad... I certainly don't think so. The tablet craze that we are in is more likely to end in my opinion than the use and manufacturing of PCs

realneil 3 years ago

[quote user="omegadraco"]Also what does he care if he gets let go I am sure he will end up with a huge severance package.[/quote]

Yeah, why the hell they always agree to pay these Mooks such outrageous sums of money is beyond me. Why they get such a ~crap-load~ of money if they're fired is weird too.

I just don't see the 'value' that these companies place on their CEO's as being justified. They really would work for less money if there weren't so many idiot companies paying such outrageous sums to their top hands. Apple's new CEO getting 383 million dollars in stock,.......just to start,....~a bonus!~,....is incomprehensible to me.

BTW: If they do can his ass, he's good for 9.4 Million total for his 10 months of "work" at HP. Not bad chump change. But who's the chumps?

AKwyn 3 years ago

Finally. I mean that guy is making consistantly bad decisions; he failed to see the potential in WebOS, he failed to see that the PC business is still a profitable and essential part of HP and he even failed to realize that HP is mostly recognized as a PC brand rather than an enterprise brand. (very few people know HP makes enterprise products.)

However, I did note the word "consider" and if Apotheker can talk his way onto staying than HP is certainly doomed.

Side note: I don't care much for HP PC's due to stuff I've heard about quality and customer service but if people think it's good, who's to prevent me from jumping on.

rapid1 3 years ago

Wow someone finally woke up at HP amazing. I also agree with everything you guys are saying, why bring someone in who is unproven specifically in/with your company, not to mention Mr. Apotheker already failed at one of your competitors, and pay them millions of dollars with no proof. Then as a specific clause to you bringing him in you have to pay him millions extra if you decide he sucks and you wanna fire him "REALLY", come on that is quackery if I ever heard it. The thing is HP is vital to the market because of there size. So I really hope someone did wake up and bought MR. Apotheker a return ticket to wherever he is from.

realneil 3 years ago

[quote user="rapid1"]The thing is HP is vital to the market because of there size[/quote]

Yes. number one in the world. The reasoning behind throwing away the ~number one in the world PC manufacturing business~ is beyond any normal thought process. Well, it goes beyond my thought processes, and all I ever did was build Spaceships, see them off into Space, and have them return to Earth with the passengers intact.

So what do I know.

Another thing,......I can't believe that it took plummeting stock prices to finally wake the board of HP up to the fact that they were being grossly mismanaged. Talk about being asleep at the wheel,.......

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