Meg Whitman may replace HP CEO
Meg Whitman, former CEO of eBay, may temporarily replace Hewlett-Packard CEO Leo Apotheker. Meg Whitman joined the HP board in January.
San Francisco — Hewlett-Packard Co. shares jumped Wednesday after reports that the technology company's board is mulling the removal of CEO Leo Apotheker, who has been on the job for less than a year.
Citing two unnamed people "familiar with the matter," Bloomberg reported Wednesday that HP's board intends to hold a meeting to discuss getting rid of Apotheker, 58.
The CEO had started at HP on Nov. 1 after HP ousted the previous CEO, Mark Hurd, following an ethics scandal. Since Apotheker's arrival, though, HP's stock has plummeted, continuing a decline that began with Hurd's departure.
If Apotheker is asked to leave HP, it would be the second time he has been fired from a CEO post. He left his former employer, German business software maker SAP AG, after less than two years as a CEO amid a customer revolt over a price hike and growing employee dissatisfaction.
HP shares rose $2.27, or 10 percent, to $24.74 in afternoon trading. In the past year, the stock has traded from $22.13 to $49.39.