EBay Vet Meg Whitman Named CEO of HP

Hewlett-Packard named Meg Whitman, former eBay CEO and California candidate for governor, as its new CEO.

Whitman is replacing Leo Apotheker after just 11 months on the job in a shake-up that represents yet another turnaround strategy at one of Silicon Valley's oldest, but most publicly dysfunctional, firms.

Since joining HP in November, Apotheker's strategic decisions had been drastic, and did little to inspire confidence.

HP's stock fell nearly 50 percent during his time at the helm. It dropped about 5 percent Thursday.

With the Associated Press