Leo Apotheker Becomes New HP CEO

By Sebastian Pop   October 1st, 2010 07:08 GMT

After cutting ties with Mark Hurd, its previous Chief Executive Officer, HP has now issued a press release to announce that it has elected a new CEO, Leo Apotheker to be exact, whose elections are set to take effect on November 1.

Mark Hurd left HP after investigations into alleged inappropriate conduct and has since taken up a position with Oracle, after the necessary legal entanglements of course.

Leo Apotheker, former SAP CEO, has now picked up where Hurd left off and has also joined the Board of Directors, while Ray Chane was named Chairman of said board.

“Léo is a strategic thinker with a passion for technology, wide-reaching global experience and proven operational discipline – exactly what we were looking for in a CEO,” said Robert Ryan, lead independent director of the Board.

“After more than two decades in the industry, he has a strong track record of driving technological innovation, building customer relationships and developing world-class teams,” he added.

Between Hurd's departure and this decision, Cathie Lesjak, HP’s Chief Financial Officer since January 2007, acted as interim CEO.

“HP has a powerful mix of businesses, products and services, one of the most innovative cultures in the industry, and an accomplished management team who have played a critical role in its success,” said Apotheker.

“I am deeply honored to be joining the more than 300,000 dedicated HP employees,” the new CEO went on to saying.

“I am excited to join the Board of this pioneering company, and look forward to working closely with Léo – and the rest of the Board and senior management team – as they capitalize on the changes taking place across the industry,” Ray Lane said.

“I have known and admired Léo for almost 20 years. He is ideally suited to build on HP’s strong foundation, leverage its many assets and keep the company at the forefront of innovation.”
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