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Hewlett-Packard Names Meg Whitman President and Chief Executive Officer

Meg Whitman
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Hewlett-Packard announced today that its board of directors has appointed former eBAY (NASDAQ:EBAY) CEO Meg Whitman, president and chief executive officer. Additionally, Ray Lane has moved from non-executive chairman to executive chairman of the board of directors, and the board plans to appoint a lead independent director without delay. The new leadership appointments are effective immediately and go after the decision that Leo Apotheker step down as president and CEO and resign as a director of the company. Whitman said, "I am honored and excited to lead HP. I believe HP matters - it matters to Silicon Valley, California, the country and the world." Hewlett-Packard (NYSE:HPQ) has a potential upside of 53.3% based on a current price of $22.8 and an average consensus analyst price target of $34.95.

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Artist: Meg Whitman
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