HP shuffles top executives in shake-up

[June 14, 2011]  PALO ALTO, Calif. (AP) -- Hewlett-Packard Co. is streamlining its executive ranks to improve its focus on customers rather than administration and put more operations directly under CEO Leo Apotheker's control.

The world's largest maker of personal computers said Monday that it is eliminating its chief administrative officer position, meaning that Pete Bocian is leaving HP immediately.

Randy Mott, chief information officer, is also leaving the company immediately, although he will be replaced in that position.

Additionally, it said two executive vice presidents in charge of businesses critical to customers would report directly to Apotheker.

They are Dave Donatelli, executive vice president of enterprise servers, storage, networking and technology services; and Bill Veghte, executive vice president of software.

Jan Zadak, executive vice president of global sales will also report to Apotheker, who became CEO in November.

Ann Livermore, who had been managing the HP Enterprise business, will step down from that day-to-day role. She was elected to the company's board.

Last month, a leaked memo from Apotheker warned of "another tough quarter," underscoring concerns about the technology heavyweight's growth strategy and the challenges facing its new leader after then-CEO Mark Hurd quit in August over inaccurate expense reports related to his relationship with a contract worker.

HP shares closed down 48 cents, or 1.4 percent, at $34.65 on Monday.

[Associated Press]

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