It’s been almost two months since the people around the tech world have been speculating about the nomination of CEO of computer giant Hewlett Packard. HP was in a sort of turmoil for nominating a CEO when the previous ousted CEO Mark Hurd left the company to join Oracle. HP launched a lawsuit against Mark Hurd but later on that lawsuit was settled with mutual consensus between both the factions.
On Thursday, HP finally named its CEO and appointed Leo Apotheker for the job who has been a former CEO of business software company SAP. Leo will take charge of his new appointment at HP from 1st of November. The company issued a press release in which they said that they have appointed Leo Apotheker as its new CEO and he will formally take charge of his new position beginning November 1.
A HP board member, Robert Ryan said in the press release that Leo possess hindsight to anticipate the way our industry is changing and he will surely help HP to accelerate and grow in the present market scenario.
Apotheker almost worked for 20 years with the German Software Giant SAP before leaving the company in February this year. He was also named as the co-CEO of SAP as a part of the move to enable transition from the former CEO Henning Kagermann to Leo.
HP decision to appoint a person out of the company has taken many by surprise because speculations were that HP will appoint some Insider as the new Chief Executive. Executive Vice President Todd Bradley who is the incharge of HP Personal System’s was the top contender to get the position but he was unable to manage it.
An analyst at Gleacher & Company commented that the appointed CEO Apotheker was low on the list of contenders because people within HP were speculating that if an external candidate will be selected then former CEO of Compaq will manage to get the spot. This search for a New CEO took almost two months approximately the same time span which HP took to replace its former CEO Carly Fiorina in 2005.