BULLETIN: HP picks former SAP chief Apotheker as new CEO

Leo Apotheker's appointment is effective Nov. 1

Hewlett-Packard has named Leo Apotheker, a former CEO of SAP, to be its new chief executive, replacing Mark Hurd who resigned abruptly last month in the midst of a scandal.

The appointment came as a surprise, since HP had reportedly been focusing on internal candidates. Apotheker's name had not been mentioned as a possible successor.

It also means that two internal candidates were overlooked for the position -- Ann Livermore, the head of HP's enterprise business, and Todd Bradley, who runs its giant PC division.

The HP board also appointed Ray Lane, a former Oracle president who had been seen as a possible contender for the CEO job, as non-executive chairman of its board.

Both appointments are effective Nov. 1, HP said.

(More to follow.)

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