Hewlett Packard have had a rocky ride in 2011 and the latest news would indicate that the company are considering big internal changes.
The company stock has dropped significantly in recent weeks and shareholders are very angry over management decisions. Hewlett Packard’s board are considering a replacement of the CEO Léo Apotheker. Several candidates are being looked at for the position, with one of the primary favourites being Meg Whitman, the former CEO of eBAY. There has been no official statement on the subject, but people close to the organisation have made comment.
Hewlett Packard have lowered their sales forecasts three times since Léo Apotheker became CEO in November and he has been in charge when the company made some dramatic strategy changes. Shareholders are very concerned that the company are facing serious problems. Last week, their stock had dropped by a staggering 47 percent which has raised more than a few eyebrows.
According to reports, Amit Daryanani, an analyst with the RBC Capital Markets in San Francisco said “There’s certainly a lot of investor discontent with them, here’s widespread frustration with the fact that numbers have been cut three times since he’s been there.”
Kitguru says: Other analysts claim that changing the CEO at this time would be seen as a negative move, rather than something beneficial for the business.