HP replaces chief executive with Meg Whitman

HP replaced its struggling chief executive Léo Apotheker with former eBay chief executive Meg Whitman late last week. The move comes after concern from investors, executives and board members over how Apotheker was dealing with the company’s recent strategy shift.

The company announced its change in a press release, stating that while its future plans are sound, it needs new leadership to follow them through.

“I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world,” Whitman 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,” said executive chairman Leo Apotheker.

“Meg Whitman has the right operational and communication skills and leadership abilities to deliver improved execution and financial performance.”