New CEO Leo Apotheker replaces Mark Hurd
HP has named former SAP chief executive officer Leo Apotheker as CEO and president of the company. He will also join HP’s board of directors.
Apotheker joined SAP in 1988 and served there for more than 20 years, where he helped develop and implement major changes in SAP, and transformed R&D and technology platforms and expanded business models and customer segments.
Apotheker worked at SAP in a variety of positions, including as a member of SAP’s Executive Board from 2002 until 2010, as deputy CEO, and, for five years, as president of Global Customer Solutions and Operations.
He was president of SAP EMEA (Europe, Middle East and Africa). Prior to this, he served as CEO of South-West Europe Region; and was CEO and founder of SAP France and SAP Belgium.
Apotheker left SAP suddenly in February this year; his short tenure as CEO saw him preside over a dismal financial performance in 2009 with revenue falling 8% and software licence revenue tumbling 28% after years of growth.
Apotheker was the founding president and chief operating officer of ECsoft BV, and also has held leadership and management positions at ABP Partners, McCormack & Dodge Europe, S.W.I.F.T. and Altex.
Apotheker currently serves as vice chairman of the supervisory board of Schneider Electric, and is a member of the board of directors of GT Nexus and the board of PlaNet Finance.
Robert Ryan lead independent director of the HP Board said: "Leo is a strategic thinker with a passion for technology, wide-reaching global experience and proven operational discipline – exactly what the company was looking for in a CEO."
"He has demonstrated success in the U.S. market and also has vast international experience – which will be a major asset as HP continues to expand globally, particularly in high-growth emerging markets," Ryan said.
Referring to his appointment, Apotheker said, "HP had a powerful mix of businesses, products and services, one of the most innovative cultures in the industry, and an accomplished management team who have played a critical role in its success."
"As we move forward, HP will continue to be a valued partner with our customers as well as a fierce competitor."