HP CEO Apotheker set to go | business | Hindustan Times
Today in New Delhi, India
Dec 10, 2016-Saturday
New Delhi
  • Humidity
  • Wind

HP CEO Apotheker set to go

business Updated: Sep 22, 2011 22:18 IST

Highlight Story

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.