HP
Director Dominique Senequier who is also chief executive officer of Axa
Private Equity, the investment buyout arm of French insurer AXA SA (CS)has
announced that she will be withdrawing her presence from HP and focus
more on her investment business. According to the HP filing, Senequier
will retire from the company following the annual meeting in March.
The official statement given by HP is
“Dominique Senequier has decided not to stand for re- election to the HP
board at HP’s next annual meeting of stockholders in order to devote
more time to her other professional commitments.”
Another development in HP is the oust of Chief Executive Officer Leo Apotheker
following unsatisfactory performance that led to three sales-forecast
cuts and jarring strategy shifts. The replacement has been decided and
it is none other than what the rumors had confirmed before, former EBay
Inc. Chief Executive Officer Meg Whitman. She is by far the better
choice for HP however, not the best one as her record at Ebay was mixed
plus she lacks experience in selling computers.
“She’s on the board and is a logical
interim CEO, but not a logical long-term CEO,” said Noland, who has a
“neutral” rating on the stock. “She doesn't have enterprise experience.”
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