Friday, October 1, 2010

Leo Apotheker as Hp CEO


Hewlett-Packard Co. AG named former SAP CEO Leo Apotheker as CEO and president, speaking to an external candidate who left his last job in February, after sales and profits plummeted.
The company named Ray Lane, partner at Kleiner Perkins Caufield & Byers, as non-executive chairman, said in a statement. The men will succeed, Mark Hurd, who was the CEO and chairman duties until his resignation on August 6. Both start at Palo Alto, California, HP on 1 November.
Apotheker, 57, came unexpectedly from SAP this year after sales and stock plunged and struggled to fight a threat to Oracle Corp. At HP, inherits a company that is using acquisitions to expand in areas such as services, mobile intelligent networking equipment. His experience in software can help the company and weaving applications on the hardware.
"There is much work to do," Joel Achramowicz, an analyst at Blaylock Robert Van LLC in Oakland, California. He has a "neutral" for the actions of HP and CEO says the decision will not change that. "The company needs new leadership that can make aggressive moves and risky to inject new vitality into the company."
HP, the largest manufacturer of computers and printers, has lost 9 percent of its value since the departure of Hurd. The shares fell an additional $ 1.34, or 3.2 percent, to $ 40.73 in extended trading after the announcement. Earlier, the population fell 46 cents to $ 42.07 on the NYSE stock exchange.
Last year
Last year SAP's Apotheker was marred by falling sales, profits and shareholder value prices. During this period, SAP fell more than 3,000 jobs, its first major cuts as the company was created. He was criticized by shareholders as ineffective in responding to Oracle, which used acquisitions to expand the applications, SAP area of expertise.
SAP's Apotheker chaired the first annual revenue decline since 2003 as customers affected by the recession, delayed purchases of software. SAP shares, which reached a record high of € 71.58 in March 2000 - when Hasso Plattner was responsible for - lost more than half its value at the time left Apotheker.
However, over his tenure over 20 years, which handled more than a dozen acquisitions, including the purchase of approximately $ 7 billion for Business Objects, the largest operation of the company, HP said in a statement .
A world traveler who speaks five languages, Apotheker rose through the sales division of the company, unlike its three predecessors, who had a history of science. He was named co-CEO in 2008 and became sole CEO of SAP in May 2009.
Advisory Directors
Apotheker was credited with creating the SAP sales force and the recruitment and sales advice from top directors, including current co-CEO Bill McDermott.
"We must give him credit for the resistance," McDermott said in an interview. "You will not find a man willing to connect with customers."
HP will benefit from the experience in software Apotheker said Shaw Wu, an analyst at Kaufman Brothers LP in San Francisco.
"Software is an area of HP should be more aggressive," said Wu, who recommends buying shares of HP. "It's a high margin business."

Kindly Bookmark this Post using your favorite Bookmarking service:
Technorati Digg This Stumble Stumble Facebook Twitter
YOUR ADSENSE CODE GOES HERE

0 comments:

Post a Comment

 

Recent Posts

Recent Comments

| News Alert © 2009. All Rights Reserved | Template Style by My Blogger Tricks .com | Design by Brian Gardner | Back To Top |