Hewlett-Packard has appointed former SAP Chief Executive Officer Leo Apotheker as CEO and president, turning to an external candidate who resigned from his last job in February after sales and profit slumped.

The company named Ray Lane, managing partner at Kleiner Perkins Caufield & Byers, as nonexecutive chairman, according to a statement today. The men will succeed Mark Hurd, who held the CEO and chairman roles until his resignation on Aug. 6.

Source: San Francisco Gate

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