HP has confirmed that former eBay head Meg Whitman has been appointed as president and chief executive officer following the departure of Leo Apotheker after just 10 months in the role.
Speculation surrounding Apotheker’s departurehad been rife during the past few days with the HP board reacting following investor criticism of Apotheker’s plan to migrate from hardware to focus on software and services.
He added: “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead.
“Meg is a technology visionary with a proven track record of execution. She is a strong communicator who is customer focused with deep leadership capabilities.”
Replacing Apotheker is proving costly for HP though, with some reports suggesting his departure costing the company as much as $33m (£21.3m).
The move comes shortly after the company’s third quarter results revealed that its printing division added $6.1bn (A$6.2bn) to the IT giant’s $31.2bn net revenues, down 1% year-on-year.
Sales of its commercial presses came in at $1.3bn for the quarter ending 31 July, down 7% year-on-year and 10% sequentially, although hardware units rose 1%, and sales were marginally up for the nine months.