HP Leo Apotheker Is Out the Door
HP Leo Apotheker is being replaced by other frontman which was announced on September 23, 2011, Hewlett-Packard board had the idea of replacing the new CEO HP Leo Apotheker with former eBay boss, Meg Whitman. Whitman, 55, has been an HP director since early this year and she served as eBay’s president as well as being CEO from 1998 to 2008. The news of this HP Leo Apotheker case has been said by many published reports. The company says that it needed a new leader if it was to successfully carry out its strategy to transform the company.
Rumors of HP Leo Apotheker ouster sent HP shares soaring nearly 7%, the company’s stock has plunged nearly inhalf during his watch. The new of the ouster came nine days shy of the one-year anniversary of HP Leo Apotheker’s appointment. That announcement ended two months of speculation about who would replace Mark Hurd, who resigned as HP’s CEO after the company found that he submitted false expense reports to hide a personal relationship with a marketing contractor.
Since HP Leo Apotheker was hired in November at HP, he has sliced the company’s sales forecasts and presided over a strategic overhaul that had some shareholders doubting about his credibility. When HP Leo Apotheker signed in with HP, he happily landed an annual salary of $1.2 million plus a $4 million signing bonus and an additional $4.6 million for relocation assistance and to offset payments from SAP. In addition, HP Leo Apotheker was also eligible for a cash bonus of $6 million for this year, 2011. HP Leo Apotheker expresses his faith in HP’s new leader and says that he is confident the company will continue to burn brightly. With HP Leo Apotheker’s at the end of duty in HP, it is now up to Meg Whitman to turn things around and make everything even better than before as what the company had planned.
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