HP has crowned Meg Whitman as its new president and chief executive after the sudden departure of predecessor Leo Apotheker.
The vendor's share price lept yesterday amid rumours the former SAP boss was set to step down.
It has been a rollercoaster few weeks for the technology giant with the 'will they won't they' sale/spin-off of PSG, a plummeting share price and industry doubt over the direction it was headed, but Whitman appears ready for the challenge.
"I am honoured and excited to lead HP. I believe HP matters - it matters to Silicon Valley, California, the country and the world," she said.
In additional moves 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 directly shortly.
"We are fortunate to have someone of Meg Whitman's calibre and experience to step up to lead HP," he said. "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. Further more as a member of HP's board of directors for the past eight months, Meg has a solid understanding of our products and markets."
According to Whitman's LinkedIn profile, she was Harvard and Princeton educated, and her CV includes a 10-year stint as chief executive of eBay. More recently she was running as a Republican candidate for the governor of California.
Commenting on the departure of Apotheker, 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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