Business

HP names Apotheker as new chief

Leo Apotheker
Image caption Mr Apotheker previously worked for Germany's SAP

Computer maker Hewlett Packard (HP) has named Leo Apotheker, former boss of business software maker SAP, as its new chief executive and president.

He replaces Mark Hurd, who stepped down from his positions as president and CEO after an investigation into claims made against him by a former HP contractor.

HP has also named Ray Lane, of venture capital firm Kleiner Perkins Caufield & Byers, as non-executive chairman.

Both appointments will come into effect on 1 November, said HP.

Mr Apotheker had been with SAP since 1988 and had been their chief executive since April 2008.

He becomes the third new HP boss in a decade.

'Expertise'

"To stand out in the crowded market for computer hardware, HP needs a chief executive who can boost the company's offering of software and IT services - Leo Apotheker fits that bill," said Tim Weber, business editor of the BBC News website.

"However, he also has to extend HP's dominance in the markets for PCs and printers, and to succeed the company needs to cement its position in the consumer market.

"Leo's expertise is mainly an expert for enterprise computing."

Trading in HP shares was briefly halted after the stock market closed.

When after-the-bell trading resumed, HP's shares fell by $1.37, or 3.3%, to $40.70.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites