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Meg Whitman to be named new HP CEO
- kenjackson 15y agoThis seems like an all up bad move. I don't think I've seen a string of worse CEO positions than HP. The Microsoft board is probably looking around and saying, "We could be doing a worse job". I wonder if they could get Bob Muglia onboard. That would actually be a good fit for this role.
- eatm0rewaffles 15y agoEbay to hp next thing you know she'll be running for governor... Those two business models couldn't be more different.
- moonlighter 15y agoHP's name of the game seems to be "One step forward, two steps back". Over and over. They are SO lost...
- seldo 15y agoWhat do people think of Meg Whitman's record at eBay? She ran for governor on her record as CEO there, but eBay has always seemed to me like a terribly-led company, sitting on its laurels as first-mover and squandering opportunities to move into new markets while startups chip away at its core business.
- vicparekh 15y agoI completely agree. Meg wasted her time at eBay. eBay is a company and therefore we are not privy to a lot of the internal politics. Their acquisition of Skype made no sense. When she ran for governor, the method by which she handled the fact that she had hired an illegal immigrant proved to me that she was seriously unfit to be anything but a Senior Manager.
- gamache 15y ago> Their acquisition of Skype made no sense. For what it's worth: eBay paid $2.6B for Skype in 2005, sold 65% of it for $2B in 2009, and then made an additional $2.5B selling its remaining stake to Microsoft in 2010. So it turned out to net almost $2B over five years. I'm not an accountant, but I could live with those numbers. (disclosure: eBay owns the company that bought the company where I work)
- arach 15y agoSkype retained its value and even became more valuable, but that doesn't mean it made strategic sense for a marketplace / e-commerce company.
- headbiznatch 15y agoIt made strategic sense if they were hoping to make a couple billion dollars on their investment.
- saraid216 15y agoThat's not strategy. That's a get-rich-quick scheme.
- headbiznatch 15y agoGetting rich quick is a valid strategical choice. It may not be your thing, but this kind of categorization is personal.
- rsbrown 15y ago"a terribly-led company, sitting on its laurels as first-mover and squandering opportunities to move into new markets" As a former employee of that behemoth, I can only say: you hit the nail on the head.
- jerhewet 15y agoCompletely agree, looking at it from the viewpoint of a seller before Meg ran it into the ground. Yes, you HN Virginia's, she did run eBay into the ground. A simple Google search will turn up plenty of people on plenty of forums that can fill you in. The stock price tells the same story.
- 0x12 15y agoWhere do you go to auction second hand stuff?
- zmj 15y agoCraigslist.
- 0x12 15y agoThey do auctions? Thank you, I never realized that. Hey downvoter, thank you for showing your ignorance. In case you had not read the craigslist faq let me help you out here: "No - craigslist is not an auction site." So me not realizing that wasn't all that strange, it seems they really aren't.
- hristov 15y agoI agree. The ebay site looked like a throwback to the 90's until a couple of years ago. On top of that it was very slow. Not only startups were chipping away at their business but also Craigslist and Amazon. The Skype acquisition was simply botched, as someone else mentioned. It is incredible that someone would screw up the legal due diligence on a multi-billion dollar deal. Also she obviously used the Ebay IPO to get herself appointed on the board of directors of Goldman Sachs.
- drzaiusapelord 15y agoThe site is such a 90s throwback. I love getting emails to pay my ebay bill with instructions like "visit the site, login here, click there, then click here, and finally click here." Err, is generating a URL straight to payment such a problem?
- whichdan 15y agoI wonder whether this is poor design, or due to the large amount of phishing attempts?
- drzaiusapelord 15y agoConsidering ebay sends me other marketing emails with links in them, I'm not sure if its anti-phishing. Ive already been trained to click on ebay links.
- weinerk 15y agoProbably they are trying to prevent phishing/scamming.
- drzaiusapelord 15y agoOKay, lets assume it is. Why can't I be presented with my balance after logging in? Why do I need to navigate through three menus just to pay them. Maybe they've fixed it. I havent used ebay in a long time. It became scam central a few years ago and theres no "dont take bids from people with less than 10 feedback" option. Half my shit was bought by someone with zero history who never bothered to contact me.
- mootothemax 15y agoWhat do people think of Meg Whitman's record at eBay? From her Wikipedia page: During her ten years with the company she oversaw expansion from 30 employees and $4 million in annual revenue to more than 15,000 employees and $8 billion in annual revenue. [1] Seems pretty impressive to me. It's also easy to forget how many companies tried and failed in this space, including the likes of Yahoo. [1] http://en.wikipedia.org/wiki/Meg_Whitman http://en.wikipedia.org/wiki/Meg_Whitman
- preview 15y agoThe growth is impressive, but did Whitman cause it to happen, or did she manage it as it was happening? My opinion is that she managed it as it was happening. That may make her a competent manager, but I think HP needs much more than just a competent manager. HP should be about technology leadership, especially if the commodity PC business is sold off.
- ScottBurson 15y agoYes. eBay is a textbook natural monopoly, because buyers want the best selection and sellers want as many buyers as possible to find their stuff. All she had to do at eBay was not screw it up -- which is something, but not the same thing at all as the task she now faces at HP.
- qq66 15y agoYou can ask that question about almost any leader, especially non-founder CEOs -- were they just sitting on top for the ride or did they do it themselves. One thing that Meg Whitman definitely executed was the acquisition of PayPal which is now responsible for probably $20+ billion of EBay's enterprise value.
- vicparekh 15y agoMeg is a really bad choice...
- jfruh 15y ago"While Mr. Apotheker is going, his strategy, including consideration of spinning off H.P.’s personal computer business from other parts of the company, will remain in place." ha ha ha WHAT "OK, let's hire this enterprise software guy, then get mad when he restructures the company around enterprise software, then fire him but make his successor implement the plan the enterprise software guy put together! Can't fail!"
- jharrison 15y agoIt sounded like it was more of a presentation issue. He doesn't present well. They didn't say anything about not liking his ideas. "He's just not CEO material" is what I got out of the article.
- jfruh 15y agoAren't "presentation issues" about the easiest thing they could have assessed in advance before they hired him? It's not like he was some anonymous behind-the-scenes VP somewhere -- he was the CEO of a major company in their space. Of course, if you're right, this fits in nicely with the NY Times' article from this morning, which basically said that the HP board hired Apotheker without meeting him, because the board members all couldn't stand each other and didn't want hang out together long enough to vet him. http://www.nytimes.com/2011/09/22/business/voting-to-hire-a-chief-without-meeting-him.html http://www.nytimes.com/2011/09/22/business/voting-to-hire-a-... These people, it's amazing.
- roc 15y agoThe board wouldn't have hired Apotheker in the first place if they didn't approve of the direction he was going to take HP. I would guess that his firing, is due more to the way he went about it [1] and his overpaying for Autonomy. [1] That is: going public with the general plan too far in advance of having the details ironed out. Which arguably did real damage to the hardware division's sales and the process of trying to find a buyer for it.
- dereg 15y ago
- deleted 15y ago[deleted]
- plinkplonk 15y agoI am just a dumb developer, so I am probably not quite getting the subtle management logic at play here, but what's with random incompetents being appointed CEOs and paid millions of dollars to make things worse or at least not much better? (Bartz at yahoo, Apotheker at HP)It seems like a systemic inefficiency to me. (btw this is a genuine question, not snark. I'd appreciate anyone versed in how boards etc work enlightening me) On that note aren't the legions of VPs that infest such companies supposed to be a "bench" for selecting a CEO from in an emergency? If you have half a hundred (or more!) VPs and none of them can step up and be CEO in troubled times, why pay them millions of dollars? Also, why exactly Meg Whitman? Just because she happened to be available and doesn't have another job? (Isn't that telling about her desirability as a CEO?) How long before they look far yet another saviour on a white horse?
- tybris 15y agoBecause the board in older companies usually consists of people with MBAs from expensive schools who just don't get technology (hint: it's not about cutting costs, it's about building technology).
- pedalpete 15y agoI think that is a gross generalization, and I think in large corporations like the ones we are referring to, their is room for MBAs. Better there then in start-ups ;) There is no rule that an MBA can't 'get' technology. It isn't about building technology either, it's about proving something people need and want, and getting them to pay for it. Technology is only a component of that.
- burgerbrain 15y agoThere may not be any codified rule, but it does seem to be the rule.
- tybris 15y ago> it's about proving something people need and want, and getting them to pay for it. HP sells more stuff that people want than almost any other company (printers, desktops, etc.). Yet they're failing. Successful technology companies (Apple, Amazon, Facebook, Google, Dell, Oracle) have business and technology interwoven like yin and yang. Business fuels technology, technology drives the business. You get there by building your business and your technology hand in hand. If you stop building, you'll fail on both. That's what you don't learn in an MBA.
- scarmig 15y agoWell, the least you can say is she won't be as bad as Carly.
- chugger 15y agoI'd choose Todd Bradley over Meg Whitman http://www8.hp.com/us/en/company-information/executive-team/bradley.html http://www8.hp.com/us/en/company-information/executive-team/... Executive Vice President, Personal Systems Group He's had success running HP’s Personal Systems Group, he's a proven leader, he knows the company, he's technology-oriented, etc. Under Bradley’s leadership, PSG has firmly established HP as the No. 1 PC vendor in the world. During his six-year tenure, the business has added more than $10 billion in revenues and increased profitability threefold. Prior to joining HP, Bradley was the chief executive officer of Palm. Before that, Bradley was executive vice president of global operations for Gateway.
- brk 15y agoI was going to write a longer post, but it can be summarized as this: They're Fucked. Nothing against Meg, but she has never been a visionary of any sort. HP is so terribly lost that they need the reincarnation of Hewlett + Packard + Jobs in a single person that can work 80 hour days for about 10 years. HP has fallen to the "used to be great" category and now we are going to watch the corpse slowly rot.
- Apple-Guy 15y agoAgree. Announcing abandoning products weeks after release, and selling off its primary business without a buyer, and then this. They show they are running out of ideas. Maybe the board needs to get fired too.
- antidaily 15y agoMaybe Microsoft can get her to buy Skype.
- Uchikoma 15y agoWell eBay made a lot of money from buying and selling Skype.
- arach 15y agoI think the notion that a company such as HP could be led by someone who is not irrefutably passionate about technology is flawed. http://en.wikipedia.org/wiki/Meg_Whitman http://en.wikipedia.org/wiki/Meg_Whitman Nothing about her bio suggests any sincere interest in technology. I think this line is interesting "She believed the site to be confusing and began by building a new executive team.", and indicative of how she could bring a new level of suck to HP. "Whitman organized the company by splitting it into twenty-three business categories. She then assigned executives to each, including some 35,000 subcategories." I might short HP.
- jfb 15y agoThe idea that HP is a technology company is sadly out of date.
- trotsky 15y agoIt seems more than any one specific CEO, the HP board has proven itself unfit to oversee the company. It's not incomprehensible that the best thing they could do for shareholder value and to protect their employees jobs would be breaking HP up and finding buyers. After all, aside from the earnings shortfalls all the big picture problems the market has with Apotheker have all been board approved. Perhaps Ellison wasn't just blowing smoke when he said "The HP board just made the worst personnel decision since the idiots on the Apple (AAPL.O) board fired Steve Jobs many years ago" about Hurd.
- jpdoctor 15y agoHP: Out of the frying pan and into the fire.
- digispaghetti 15y agoBets on how long it takes the HP board to come groveling at Mark Hurd's feet to come back and rescue the company (again!) ?
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- jfb 15y agoWhen the wheels come off a cart as big as HP, it's pretty awe-inspiring. I wonder who's next? Certainly Dell isn't going to get anywhere becoming a "services" company. Too, how many "services" companies does the world really need? Rhetorical question, I suppose.
- cHalgan 15y agoI wonder why there are no internal talent in HP to replace CEO (you know, the second in command which will take control of the ship if CEO is hit by a bus). Is there a company which is actively working on internal talent pool capable of replacing the acting CEO? (I can think only of Apple, but they are not typical corporation).