Apps & Software
Rumor Driving: Apotheker CEO Change at H-P... You're Fired? (HPQ, SAP, ORCL, IBM)
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Leo Apotheker may have one of the shortest CEO jobs in technology history. There are rumors that the board of Hewlett-Packard Co. (NYSE: HPQ) is already considering replacing Apotheker. The move to break up the company was one thing that was mixed, but the expensive acquisition of Autonomy and the lack of direction have not helped Mr. Apotheker convey that he is the right man for the job at H-P.
SAP AG (NYSE: SAP) is Apotheker’s former home and he was always considered more of a software guy. Oracle Corporation (NASDAQ: ORCL) and International Business Machines Corporation (NYSE: IBM) have probably been more than happy that H-P took Apotheker as CEO. After all, H-P has fallen precipitously.
The stock market does not like Leo Apotheker at all. Shares had been in the red, but now the stock is up almost 4% at $22.36. We have also seen more than 23 million shares trade hands when the average volume is about 24 million shares per day.
- Update at 11:45: Bloomberg reported that Meg Whitman may be considered for the CEO role, but maybe just on an interim basis.
JON C. OGG
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