Meg Whitman becomes HP's new CEO

Were HP lurking eBay looking for a new CEO? It could be a possibility. Former eBay CEO, Meg Whitman, is now the CEO and President of Hewlett-Packard. Current non-executive, Ray Lane, will become executive chairman. Whitman is a well-known executive, will replace HP's current Leo Apotheker, who was prodded out of the company just recently. Whitman is an experienced digital executive, has a large task ahead of her.

HP wants to re-direct itself after numerous strategic gaffes, disappointing financial results and probably the biggest issue, stock that has dropped 47-percent in 11 months since Apotheker was head of the ship. The board of HP is hoping Whitman can turn this all around, with ever-increasing pressure from the competition.

Check out the official press release from HP.