HP: Whitman Sees PC Spin Decision Before 2012; Wary On Q4 Revenue Outlook

Newly installed Hewlett-Packard CEO Meg Whitman told investors on a conference call this afternoon that the company’s board expects to determine the best path for its PC business by the end of the calendar year if not sooner. The company had previously said it could take 12-18 months to determine

It’s Official At HP: Apotheker Is Out, Meg Whitman Named President And CEO


Leo Apotheker was made the president and CEO of Hewlett-Packard on September 30, 2010. Today, just shy of a year later, he has stepped down from his post and HP’s board of directors appointed Meg Whitman as his replacement. Big surprise, right?

Under the leadership of Apotheker, HP’s stock lost nearly half of its value, basically squandered Mark Hurds’ $1.2 billion investment in Palm and announced that the company was considering cancelling or spinning off its consumer PC business. In short, HP lost its way within the last 357 days.

This move is hardly unexpected as it was rumored extensively over the last week. Meg Whitman was previously the head of ebay and joined HP’s board of directors in January 2011. She also sits on the boards of Procter & Gamble, Zipcar and Teach for America.

In a statement released by HP today, Whitman stated, ” “I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world.”

Sounds good to us, Meg. Do Bill Hewlett and Dave Packard a solid though and don’t abandon their original mission. Keep the PC business and promote a start-up feel throughout the massive HP machine. Don’t forget the company you now lead was founded in a Palo Alto garage.


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Meg Whitman
eBay, Zipcar

Meg Whitman, is the former CEO and Board Chairman of eBay. She resigned in March of 2008. In September of 2009, she announced her official candidacy for governor of California.

Leading eBay from 1998 to 2008, Meg helped the company grow from 30 employees and a little over $4 million in revenue to more than 15,000 employees, nearly $8 billion in revenue, and a network of 12 million users in California alone. Under Meg’s leadership, eBay…

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Leo Apotheker
SAP, Hewlett-Packard

Leo Apotheker is the CEO of HP. He previously served as the co-CEO of SAP from April 2008 until February of 2010.

Before his appointment as SAP’s co-CEO, Apotheker was Deputy CEO from 2007 to 2008, member of the SAP AG Executive Board and President of Global Customer Solutions Operations from 2002 to 2007, and President of SAP EMEA (Europe, Middle East and Africa) from 1999 to 2002.

He was CEO and founder of SAP France and…

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Stocks, commodities dive on recession fears

NEW YORK (Reuters) – World stocks fell to 13-month lows and commodities tumbled on Thursday as weak data from China crystallized investor fears of a global recession one day after a grim economic outlook from the Federal Reserve.

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Particles found to break speed of light

GENEVA (Reuters) – An international team of scientists said on Thursday they had recorded sub-atomic particles traveling faster than light — a finding that could overturn one of Einstein’s long-accepted fundamental laws of the universe.

Run for cover. Copper prices are getting killed.

“The sky is falling! The sky is falling!” That’s what copper traders must be thinking today, as prices plunged almost 8% amid mounting fears that the global economic slowdown may turn into an outright recession.