Apotheker news boosts Hewlett-Packard
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Thursday 22 September 2011
News that Hewlett-Packard's board is considering sacking its chief executive, Leo Apotheker, added almost $5bn (£3bn) to the value of the company. The computer maker's shares have halved during Mr Apotheker's 11-month tenure, amid poor results and an angry investor reaction to the strategy he laid out in August, when he said HP would sell its PC business and buy the UK software firm Autonomy.
HP's board has been meeting this week and is considering putting the former eBay boss Meg Whitman in charge of HP on an interim basis.
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