Leo Apotheker Is HP’s New CEO

Posted by on Oct 1st, 2010 and filed under Featured, Tech Stuff. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

The multi-national information technology corporation, Hewlett-Packard (HP), board of directors has elected a new CEO and President. Interim CEO for the corporation, Cathie Lesjak, will transfer his duties to Leo Apotheker, former CEO of SAP AG (a German software corporation), who was named by the Board to replace former CEO Mike Hurd who resigned because of a controversy surrounding a sexual harassment case.

Apotheker, 57, was SAP AG’s CEO from 2008 to 2010 and had been with the German software company for more than twenty years. He is known to be a very good strategic thinker with wide views about business in a global setting. He founded SAP Belgium and SAP France and has been its CEO from 1995 to 1997 and became President of SAP‘s Southwest Europe Region from 1997 to 1999.

He also became the President of SAP EMEA (Europe, Middle East and Africa) from 1999 to 2002 eventually becoming its Deputy CEO from 2007 to 2008 and Co-CEO alongside Henning Kagermann (SAP AG’s other CEO in 2008). He became sole CEO last year after Kagermann retired.

Critics have said that Apotheker knows more about selling the product than what he knows about the product. They say that, in the IT industry, he is known as a businessman who knows how to make a profit. He resigned from SAP AG on February 7, 2010 amidst rumor of a backlash from the SAP AG Board of Directors.

During his term as CEO, he was widely criticized for SAP AG’s loss in profits in sales due to raising product prices. His cost cutting, by laying-off three thousand employees from SAP AG, was seen as too aggressive. He is often said to be arrogant and conservative when expressing his views.

Apotheker graduated from the Hebrew university in Israel with a degree in International Relations and Economics. He is also fluent in five languages. Apotheker will assume the position of president and CEO of HP on November 1, 2010.

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