HP’s Leo Apotheker Making New Strides

Senior member and former CEO of business software firm: SAP, has been offered a job by HP. The guy’s name is Leo Apotheker and he’s probably going to be the new acting CEO of HP. Without any doubts, I think that whatever Hewlett Packard has been through, it needs Leo Apotheker more than anything right now. Especially, since Hurd walked out on the company and joined Oracle.

Sources say that Apotheker will take over the CEO seat at Hewlett Packard on November 1st. Director of HP’s board: Bob Ryan said, “Our board of directors cast the net very far and very wide both internally and externally.” It was a unanimous decision of the members of Human Resource department and senior members of the executive board, to select Leo Apotheker as the new CEO.

Since economy is a little tough these days and HP is going through a rumble, Apotheker will only receive annual salary of $1.2 million and a $4million signing bonus. Chances are that the new company will cover up for the salary loss of Apotheker, since he will be leaving his old post from SAP.

However, compared to the former CEO of HP, Apotheker has somehow agreed to lesser salary structure. Hurd was offered $1.4 million as annual payments, and a $2 million signing bonus. Plus, he was also given $2.8 million as a relocation package in 2005, when he joined HP.