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HP names new CEO

Reuters
4:53 PM, E.T. | September 30, 2010
Technology, U.S.

Hewlett-Packard Co. (HPQ-N) Thursday named former SAP chief executive Leo Apotheker as its new CEO and president.

Apotheker succeeds Mark Hurd, who was ousted from HP on Aug. 6 for filing inaccurate expense reports related to a female marketing contractor.

HP's board also named Ray Lane as non-executive chairman. Lane is managing partner at venture capital firm Kleiner Perkins Caufield & Byers.

Both appointments are effective Nov. 1, HP said.

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