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HP boss out - Updated

23 Sep 2011

The board of Hewlett-Packard have named a new CEO, Meg Whitman, less than a year after appointing her predecessor, Leo Apotheker.

In a statement, HP says the appointment follows ‘the decision that Leo Apotheker step down as president and chief executive officer and resign as director of the company’.

Whose decision that was is not specified, although HP executive chairman, Ray Lane, adds, "We very much appreciate Leo’s efforts and his service to HP since his appointment last year.

"The board believes that the job of HP CEO now requires additional attributes to successfully execute the company’s strategy.”

HP announced recently it would consider spinning off its PC division, Personal Systems Group, and it seems this appointment will not change that strategy.

"We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of market opportunities ahead,” Lane says.

"Meg is a technology visionary with a proven track record of execution.”

Whitman was CEO and president of eBay from 1998 to 2008, growing the company from 30 to 15,000 employees.

Apotheker is the second technology boss to go this month, with former Yahoo CEO, Carol Bartz, being fired two weeks ago.

Update: New HP CEO Meg Whitman has wasted no time asserting herself within the organisation, sending an email to employees in conjunction with executive chairman Ray Lane to reassure them about management's commitment to the company.

"We know that change is difficult," reads the letter, published on tech website TechCrunch.

"The decision to change the leadership of HP is one the board took seriously.

"We all recognise that the technology landscape is changing rapidly and we have to do more than simply adapt. We must invest in innovation, leverage the strength of our core businesses, enhance our software capabilities and integrate our assets to maximise the value of our investments.

"Each and every one of you contributes to our success."