Briefcase
Whitman takes reins of Hewlett-Packard
SAN JOSE, Calif. – Hewlett-Packard Co.’s board on Thursday named Meg Whitman as the new president and CEO of the troubled tech giant, replacing Leo Apotheker less than a year after he was given the job.
“We are fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP,” Ray Lane, who moved from the board’s non-executive chairman to executive chairman, said in a prepared statement. “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead.”
Lane said of Apotheker, who resigned from HP’s board Thursday, “We very much appreciate Leo’s efforts and his service to HP … . The board believes that the job of the HP CEO now requires additional attributes to successfully execute on the company’s strategy. Meg Whitman has the right operational and communication skills and leadership abilities to deliver improved execution and financial performance.”
Under the terms of his HP contract, Apotheker could walk away with about $26 million in severance payments and stock, though the value of the stock could change depending on HP’s performance, according to the Wall Street Journal.
“I am honored and excited to lead HP,” Whitman, 55, said in the statement. ”
San Jose Mercury News
Footwear shop open on Grand Boulevard
The Walk Shoppe, a footwear boutique, has opened at the Grand Corner Professional Building at 3707 S. Grand Blvd. on the South Hill.
The business is operated by Spokane podiatrist Dr. Borys Markewych, who operates the South Hill Foot and Ankle clinic in an adjoining office.
Footwear brands offered include Dansko, Clarks, Keen, New Balance and others. In addition to shoes, the shop carries arches, inserts and other personal items, including watches by Slap.
Staff reports
SEC chairman’s ethics questioned
WASHINGTON – The head of the Securities and Exchange Commission is facing increased scrutiny from lawmakers as a former top SEC official says he was cleared to work on how victims of Bernard Madoff’s scheme should be compensated, even though he benefited financially from Madoff’s scheme.
The former SEC general counsel, David Becker, said in testimony to a House hearing Thursday that he was told by agency ethics officials he had no conflict of interest in helping craft the SEC policy.
SEC Chairman Mary Schapiro was criticized at the hearing for allowing Becker to help set the policy even though he told her he had inherited a Madoff account from his mother.
The SEC inspector general has investigated the matter and asked the Justice Department to determine whether Becker violated conflict-of-interest laws.
Associated Press