Rumors have been swirling this week, and now it appears HP is indeed changing captains. Out is Leo Apotheker who oversaw the death of webOS devices and HP's staggering stock decline. In is Meg Whitman, the former CEO of Ebay and a current HP board member.
HP is expected to make the announcement official after trading hours today.
Our Take: Don't take any webOS vibes from this decision. This company is in turmoil, led by a dysfunctional, disconnected board. In all reality, the damage to webOS has already been done and HP will, most likely, want to start over with new direction and plans.
[Source: Wall Street Journal]