Léo Apotheker was selected as the president and chief executive officer by the Hewlett-Packard’s board of directors. This is the third time that HP chooses an external candidate as the CEO over a decade. The present CEO of HP Mark Hurd was compelled to resign as he got involved in sexual-harassment and expense-reporting scandal on August 6. Apotheker will take over from Mark Hurd on November 1.
Apotheker who is 57 year old, was CEO of the German software giant SAP from 2008 to 2010. He worked in SAP for almost 19 years and resigned in February in the midst of chaos over poor earnings. He’ll also be a part of HP’s board of directors. Apotheker’s appointment as the CEO has raised mixed reactions. The corporate customers will be happy as Apotheker is well-known among those executive circles. Apart from that SAP works closely with HP’s enterprise hardware, software and consulting groups. SAP also shares many of the same 500 customers.
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The game became so interesting when Hurd was then quickly named as the co-president of Oracle. Apotheker’s appointment as the CEO increases the possibility of HP buying SAP. If this deal happens then HP would give its competitor Oracle a tough time. Investors will be more interested in Apotheker’s understanding of HP’s consumer business especially in PCs and printers. HP is the world’s largest seller of PC’s and printers.
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