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September 22nd 2011 5:34 pm

Meg Whitman named new CEO of HP

It looks like the rumors are true! Meg Whitman will be named the new CEO of HP. The New York Times wrote a piece yesterday [1], "As speculation swirled Wednesday that Meg Whitman might be brought in to save the troubled Hewlett-Packard, the tech world rendered a verdict: You have got to be kidding." Meanwhile, at The Atlantic, Alexis Madrigal takes a stand, and argues that she is potentially one of the more successful CEOs in tech [2].

No matter what though, everyone seems to be of the consensus that HP's board of directors is probably the worst of all time [3]. Will Meg Whitman be able to change HP's ways? Can she renew confidence in the struggling company?

And maybe more importantly, for those of us on gdgt, will she revive Palm / webOS?

[1] New York Times: www.nytimes.com­/2011­/09­/22­/technology­/idea­-of­-whit...
[2] The Atlantic: www.theatlantic.com­/technology­/archive­/2011­/09­/how...
[3] CNN: money.cnn.com­/2011­/09­/22­/technology­/hp­_board/

Press release:

HP Names Meg Whitman President and Chief Executive Officer

Ray Lane appointed executive chairman; Léo 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 Léo 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."

Via: www.engadget.com­/2011­/09­/22­/hp­-names­-meg­-whitman­-n...

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6 replies

Maybe she'll put HP up for auction on ebay.
7 like dislike

Poor seller! Will not buy again! F+++++++ LOL
0 like dislike

You sir, win the internet!
0 like dislike

So much for that:

Meg Whitman: "I am supportive of the actions that were announced on August 18th...from what I know now, I think the strategy is right, the initiatives we took on August 18th were right."

Via: Gizmodo - gizmodo.com­/5843071­/hp­-charts­-the­-same­-goofy­-cours...
1 like dislike

Well, that is disappointing. Another "Yes Man." And yes, I am aware she is a woman; the term is just a term.
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I'm let down by HP's board for hiring a publicly anti-gay replacement for CEO. Why choose a divisive political failure for a company facing a seriously uncertain future?
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