HP names Apotheker new CEO

by Gautham Nagesh - 09/30/10 10:23 PM ET

“Given HP’s diversified products and services, its financial strength,
and its leadership position across markets, no other company is as well
positioned to drive – and profit from – the revolutionary changes under
way in the marketplace,” Apotheker said.

“He has demonstrated success in the U.S. market and also has vast international experience – which will be a major asset as HP continues to expand globally, particularly in high-growth emerging markets. HP has the right assets and market positions, and now we have the best team to realize the company’s enormous potential,” added Ryan.

HP also announced that former Oracle president Ray Lane would be joining the company’s board as non-executive chairman. Interim CEO Cathie Lesjak will remain with HP as chief financial officer.

“I have known and admired Léo for almost 20 years. He is ideally suited to build on HP’s strong foundation, leverage its many assets and keep the company at the forefront of innovation,” Lane said.

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