HP's board wants to fire CEO after less than a year on the job; shares rise on speculation

by Techvibes NewsDesk

Killing off hardware as the world's biggest PC business and abruptly pivoting to an enterprise software company is a bold, bold strategy.

One that, for HP, hasn't been going over too smoothly.

With Leo Apotheker holding the reigns of HP, the company's share price has been sliced in half in under a year. Under him, the company launched the TouchPad, killed it in record time, and is now laying off over 500 people while it shifts focus. Oh, and HP bought some company for several billion dollars despite "near universal opposition" from investors.

Bloomberg suggests that eBay CEO Meg Whitman is a frontrunner to replace Leo. HP's share price has risen on the speculation of his firing.

Photo: Bloomberg

Mississauga, Ontario, Canada

The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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