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HP stock soars 10 percent on rumor that CEO is getting fired

Posted on Wednesday, September 21 2011 @ 20:09:35 CEST by

CNN reports HP's shares are up 10 percent today on rumors that the board is considering firing CEO Leo Apotheker:
HP plans to offer the position to former eBay (EBAY, Fortune 500) head Meg Whitman, a source told Fortune Wednesday morning. Meg Whitman, 55, has been an HP director since early this year. She served as eBay's president and CEO from 1998 to 2008.

HP's board is planning to meet this afternoon, the Fortune source said. A company spokeswoman declined to comment.

The news of the possible ouster comes nine days shy of the one-year anniversary of Apotheker's appointment. That announcement ended two months of speculation about who would replace Mark Hurd, who abruptly resigned as HP's CEO after the company found that he submitted false expense reports to hide a personal relationship with a marketing contractor.



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