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Hewlett Packard gets a new CEO

posted 23 Sept 2011, 09:35 by Mpelembe   [ updated 23 Sept 2011, 09:37 ]

The world's largest PC maker, Hewlett Packard, named former eBay Chief Executive Meg Whitman as its new boss, replacing the harshly-criticised Leo Apotheker.

USA-HP CEO - The world's largest maker of personal computers, Hewlett Packard, has a new boss.

Meg Whitman becomes CEO less than a year after outgoing chief executive Leo Apotheker took up the post.

The former head of eBay will work to restore investor confidence after the company's stock lost more than 50 percent of its value in the last year.

Whitman is credited with building eBay into a global force before leaving the company in 2008.

But analysts aren't convinced her internet retail background is right for the job, with shares closing down nearly 5 percent in Thursday's session.

The company has endured a series of embarrassing episodes over recent years, a situation compounded by slowing growth in PC sales.

Whitman says the company remains committed to completing a review of its PC division before the end of the year and expects to close its pricey $12 billion acquisition of British software maker Autonomy as planned.

Hayley Platt, Reuters