Palo Alto, Calif.—Hewlett-Packard Co. announced that Léo Apotheker has resigned as president-CEO and director of the company, after serving only 11 months in these leadership roles.
The board elected Meg Whitman as its new president-CEO. Whitman is the former CEO of eBay and was a candidate in last year's race for governor of California.
Ray Lane, executive chairman of HP's board, said in a statement, “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.”
The appointments are effective immediately.