The best-known tech company in the world, Hewlett-Packard chooses Léo Apotheker as the CEO and President. Léo Apotheker is the former CEO of German software giant SAP. Léo Apotheker will join HP's board of directors and take over the job vacated by Mark Hurd from 1st November.
Hewlett Packard also said in addition that it has named Ray Lane, a managing partner at Kleiner Perkins Caufield & Byers, as the non-executive chairman of the board.
Apotheker was the chief executive at SAP from 2008 to 2010. He had served the company for 19 years before resigning in February.
HP had said it was considering both internal and external candidates and after recruiting Hurd and Carly Fiorina, this is the third time that HP has chosen to go with an outside hire in a little over a decade’s time.
HP board member Robert Ryan said that they chose Apotheker because he's "a strategic thinker with a passion for technology, wide-reaching global experience, and proven operational discipline."
From a corporate customer’s point of view, naming the former CEO of SAP as HP's new chief executive would make sense. SAP works closely with HP's enterprise hardware, software, and consulting groups, and shares many of the same Fortune 500 customers.
The combination of Apotheker--the former head of Oracle's toughest competitor in the enterprise software business will also provide plenty for pundits who see Oracle and HP on a competitive collision course for corporate tech dollars.
Investors are keenly awaiting to see what sort of understanding Apotheker has of HP's consumer business in PCs and printers. HP is the world's largest seller of both devices, with 18 percent of the PC market, and 41 percent of the printer market, according to IDC.