Killing off hardware as the world’s biggest PC business and abruptly pivoting to an enterprise software company is a bold, bold strategy.
One that, for HP, hasn’t been going over too smoothly.
With Leo Apotheker holding the reigns of HP, the company’s share price has been sliced in half in under a year. Under him, the company launched the TouchPad, killed it in record time, and is now laying off over 500 people while it shifts focus. Oh, and HP bought some company for several billion dollars despite “near universal opposition” from investors.
Bloomberg suggests that eBay CEO Meg Whitman is a frontrunner to replace Leo. HP’s share price has risen on the speculation of his firing.