HP replaces its CEO Leo Apotheker by former eBay head Meg Whitman

Global IT major HP (Hewlett-Packard) has replaced its current CEO Leo Apotheker by Meg Whitman who is a former head of eBay because of low shareholders- confidence. Share price of HP has fallen nearly 45% in the current year 2011 because of continuous drop in shareholders- and investors- confidence in one of the biggest IT Company.

HP has recently announced to sell its personal computer business which is having the maximum global market share and stop producing tabs. It has also announced to UK based software company Autonomy for USD 11.7 billion. All these strategies were dumped by the shareholders and investors. This has also increased the speculation that HP would soon go for a new CEO.

Meg Whitman, who has made eBay a global company, will have tough job ahead as the new CEO of the biggest IT Company in terms of revenue (nearly USD 120 billion). He has to improve the growth as well as gain the investors- confidence during this struggling time with falling share prices.