HP Shares Slide Following New CEO Appointment


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"Given that some of these executives were likely considered for the CEO position, we believe they will have more autonomy in running these divisions," wrote Alexander.

Several HP partners privately said they believe HP shares would have traded up if the company named Personal Systems Group Executive Vice President Todd Bradley.

"I just hope the board of directors knows what they are doing," said one top HP partner who did not want to be identified. "They just knocked their stock value down five percent. If they had picked Bradley everyone would have been dancing in the streets. But we have to wait this thing out and give this guy a chance."

Another partner, who did not want to be identified, asked: "When have you ever seen a company announce new leadership and the stock drop five percent? When you lose a leader the stock goes down. Not when you get a new leader. This is not a good message."

 


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