Meg Whitman whose name has been known to us as CEO eBay replaced Leo Apotheker as CEO HP. Apotheker’s 11-month tenure as CEO did not enjoy a smooth sailing with the culmination point being the decision to spin off HP’s PC business and discontinuation of WebOS.
According to HP Board Chairman:
“We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead. Meg is a technology visionary with a proven track record of execution. She is a strong communicator who is customer focused with deep leadership capabilities.”
However, the confidence that Lane has exhibited in Whitman’s leadership qualities does not seem to be shared with investors since HP’s stock prices dropped after Whitman’s appointment as CEO. There was a drop of nearly 3.5%. That means investors want someone in charge of HP having a background in hardware and enterprise sales. Whitman has definitely done a good job as eBay’s CEO but investors are just not buying the idea that she can bring the same success to HP’s dwindling business as well.
Whitman will definitely have to take some strategic decisions soon to regain investor confidence.
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