HP board to fire its CEO?


22 Sep 2011

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HP CEO Leo Apotheker

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HP is rumoured to be considering letting go of its CEO of 10 months Leo Apotheker, after he led dramatic strategy changes which frustrated investors.

Bloomberg reports Apotheker could be replaced by former eBay CEO and HP director Meg Whitman, possibly on a temporary basis.

HP’s board of directors met this week to reportedly discuss whether or not Apotheker should be ousted, but did not come to a decision.

The rumours come after HP decided to spin off its PC and webOS businesses, which shocked investors. HP has also commenced layoffs in its webOS division, which could amount to 525 people losing their jobs.

The computer giant also cut its sales forecasts three times since Apotheker took the role of CEO last November.

Along with possibly firing Apotheker, HP’s board is reportedly reconsidering the spin-off of its PC unit.

Apotheker was the former CEO of SAP, which deals with enterprises as opposed to consumers. He said he would change HP’s focus to software, cloud computing and connectivity, which may have led to the proposed spin-off of HP’s PC business.