HP names outsider as CEO
9/30/2010 6:15 PM EDT
SAN JOSE, Calif. - Hewlett-Packard Co. has announced the election of Léo Apotheker as chief executive and president.
Apotheker, who previously served as CEO of SAP, will also join HP’s board. The board also elected Ray Lane, managing partner at Kleiner Perkins Caufield & Byers, as a new member of the board and designated him as non-executive Chairman. Both elections are effective Nov. 1.
During Apotheker’s more than 20 years at SAP, he was a driving force in making it the largest business software applications company in the world.
Apotheker will succeed Cathie Lesjak, who was named interim CEO in August 2010. Lesjak, who has served as HP’s chief financial Officer since January 2007, remains CFO and continues to serve as a member of the executive council.
In August, HP announced that Chairman, Chief Executive Officer and President Mark Hurd resigned his positions effective immediately. Hurd’s decision was made following an investigation by outside legal counsel and the general counsel’s Office, overseen by the board, of the facts and circumstances surrounding a claim of sexual harassment against Hurd and HP by a former contractor to HP.
Hurd has landed as president of Oracle Corp.