Hewlett-Packard Shareholders: Oh No, Meg Whitman
Meg Whitman is now the CEO of Hewlett-Packard (NYSE:HPQ). Although HP needs change, investors aren’t happy with the choice. “The notion that H.P. can be fixed by adding a celebrity chief executive is laughable,” said Roger McNamee, managing director of Elevation Partners, an investment firm. Charles House, a longtime H.P. engineer who is chancellor of Cogswell Polytechnical College in Silicon Valley states Ms. Whitman would be “an unmitigated disaster…her style is so arrogant it gags.”
Regardless of what shareholders want, Leo Apotheker is out the door and the former Ebay CEO (NASDAQ:EBAY) is in. Hewlett-Packard’s stock is down another 1% after hours to $22.55 on the news. Shares are down 45.84% year to date. The stock has traded in a 52-week range between $22.13 and $49.39.
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