- Associated Press - Thursday, September 30, 2010

THE DECISION: Hewlett-Packard hired former SAP chief Leo Apotheker to be its new CEO. This ends a two-month search to replace Mark Hurd, who was ousted by the board in a scandal in August. The company also named former Oracle executive Ray Lane as its new board chairman.

THE RESUME: Apotheker, 57, spent most of his career at German business software maker SAP. He was promoted to CEO in April 2008 but lasted less than two years. SAP did not renew his contract, largely because SAP’s financial performance fell short of investor expectations.

THE REACTION: The appointment of a company outsider came as a surprise. HP’s shares slipped in after-hours trading.



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