HP appoints Léo Apotheker as CEO

HP has appointed Léo Apotheker as its next chief executive officer and president.

Apotheker was previously the CEO of SAP, and will officially kick off his new job on November 1st.

In a statement, HP lauded Apotheker's performance at SAP, noting he helped steer the outfit to 18 consecutive quarters of double-digit software revenue growth between 2004 and 2009.

“Léo is a strategic thinker with a passion for technology, wide-reaching global experience and proven operational discipline – exactly what we were looking for in a CEO,” said Robert Ryan, lead independent director of the board. “After more than two decades in the industry, he has a strong track record of driving technological innovation, building customer relationships and developing world-class teams.”

Apotheker said he was "deeply honored" to be joining the HP

“Given HP’s diversified products and services, its financial strength, and its leadership position across markets, no other company is as well positioned to drive – and profit from – the revolutionary changes under way in the marketplace," he flanneled . "I look forward to working with the outstanding people at HP to write the next chapter in the company’s long and proud history.”

Apotheker succeeds Cathie Lesjak, who's been acting CEO since Mark Hurd had a dinner too many with a blonde soft porn actress back in August.

The board of Directors of HP also elected Ray Lane, managing partner at Kleiner Perkins Caufield & Byers, as a new member of the board and designated him as non-executive chairman.