The board of directors of HP Co., Palo Alto, Calif., elected Léo Apotheker as CEO and president. Apotheker, who previously served as CEO of SAP, will join HP’s board. The board also elected Ray Lane, managing partner at Kleiner Perkins Caufield & Byers, as a new member and designated him as non-executive chairman. Both elections are effective Nov. 1.
During Apotheker’s more than 20 years at SAP, he was a driving force in making it the largest business software applications company in the world.
Lane has served on the board of directors of more than 20 public and private companies and joined Kleiner Perkins in 2000. Previously, he served as president and COO at Oracle Corp.
Apotheker succeeds Cathie Lesjak, who was named interim CEO in August 2010, after the resignation of Mark Hurd. Lesjak, who has served as HP’s CFO since January 2007, remains in that role and continues to serve as a member of the executive council.