Hewlett-Packard Co's board convened on Wednesday to consider ousting chief executive officer Leo Apotheker after less than a year on the job and replacing him temporarily with former eBay CEO Meg Whitman, a source familiar with the matter said.
HP's board of directors is thrashing out a host of issues, including whether to name Whitman as the interim CEO.
During his 11-month tenure, Apotheker slashed sales forecasts repeatedly, backtracked on promises to integrate Palm's webOS software into devices, and struggled to halt a 50% plunge in the share price.
No decisions have yet been made about leadership, the source said.
HP shares rose 6.6% to close at $24.0, following the report.
A company spokesperson declined to comment.