Feeds

HP expected to hand Whitman full fat CEO role

Apotheker set for nightflight to Frankfurt?

Boost IT visibility and business value

Meg Whitman will be handed the reins at HP for the long term, multiple reports said today.

However, the expected ousting of accident prone current boss Leo Apotheker in favour of the former eBay boss turned gubernatorial candidate, has done little to steady investors' faith in the firm, with its shares down almost 5 per cent this morning.

News that Apotheker might be for the chop, with Whitman stepping in as caretaker CEO broke yesterday courtesy of Allthingsdigital. Its shares rose on the back of the speculation.

However, Reuters reports this morning that sources told it that Whitman would become "full CEO rather than serving in an interim capacity."

This would presumably set the stage for a longer term makeover of the firm, rather than an interim quick fix.

Reuters added that one of its sources said Whitman's elevation would not result in a reversal of Apotheker's key strategic moves, including the proposed spinning off of its PC division, and the eyewateringly expensive acquisition of British software vendor Autonomy.

This could explain the slide in HP's shares this morning, although the kinder explanation is that the vendor is suffering from a wide-ranging rout of US shares after the Fed issued a gloomier than expected analysis on the US economy yesterday.

The process to elevate Whitman is "on track" Reuters said, with the final word on Apotheker's tenure expected to come this afternoon, after the stock markets close. Lufthansa has a 7.08pm flight from San Francisco to Frankfurt. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.