In a statement, Whitman said, "I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world." The company also announced today that Ray Lane is moving from a non-executive chairman role to executive chairman of the board of directors, and that the board intends to appoint a lead independent director "promptly." HP's press release and some information from the company's investor call announcing the decision are right after the break.
Update: At least for the immediate future, it doesn't appear the installation of Whitman at the head of HP is going to lead to a major change of course. The plans for the Personal Systems Group and webOS remain the same as those Leo Apotheker laid out in August -- an announcement new executive chairman Ray Lane admitted the company struggled with. In fact, Whitman said the "strategy is right," the problem lies in the execution. A spin off of PSG is still under consideration, and the new CEO said a decision will be made before the end of the year. Splitting off the PC business will only happen if it's deemed to be stronger as an independent entity, though it may still keep the HP branding. Meanwhile the company is "exploring options to optimize the value of webOS."
Ray Lane appointed executive chairman; Leo Apotheker steps down as president, chief executive officer and director
PALO ALTO, Calif.--(BUSINESS WIRE)--HP (NYSE: HPQ) today announced that its board of directors has appointed Meg Whitman as president and chief executive officer.
"We are fortunate to have someone of Meg Whitman's caliber and experience step up to lead HP"
In addition, Ray Lane has moved from non-executive chairman to executive chairman of the board of directors, and the board intends to appoint a lead independent director promptly. These leadership appointments are effective immediately and follow the decision that Leo Apotheker step down as president and chief executive officer and resign as a director of the company.
"We are fortunate to have someone of Meg Whitman's caliber and experience step up to lead HP," said Lane. "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. Furthermore, as a member of HP's board of directors for the past eight months, Meg has a solid understanding of our products and markets."
Whitman said, "I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world."
Speaking on behalf of the board, Lane said, "We very much appreciate Léo's efforts and his service to HP since his appointment last year. The board believes that the job of the HP CEO now requires additional attributes to successfully execute on the company's strategy. Meg Whitman has the right operational and communication skills and leadership abilities to deliver improved execution and financial performance."
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