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Wall Street not impressed with Meg Whitman hire

Friday, September 23, 2011

imageOne thing going for Meg Whitman as she takes over as Hewlett-Packard CEO: initial expectations on Wall Street of her chances of turning the company around are a bit low. After Leo Apotheker was dumped 11 months into the job analysts are questioning Whitman’s selection and whether the board was too hasty, the Wall Street Journal says. It probably doesn’t help that one of Whitman’s first utterances yesterday was to endorse her deposed predecessor’s strategy. An excerpt:
Questions remain over whether Ms. Whitman can manage H-P. While she grew eBay into a multi-billion dollar company last decade, it was "an Internet services company that manufactured nothing," observed Jim Bethmann, head of the high-tech practice at recruiters Caldwell Partners International in Dallas. H-P dwarfs the size of eBay when Ms. Whitman left as CEO more than three years ago.

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