September 30, 2010, 4:49 PM — 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.)