"We are fortunate to have someone of Meg Whitman's caliber and experience step up to lead HP," Ray Lane, who is now the executive chairman of the board of directors, said in a 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. Meg is a technology visionary with a proven track record of execution. She is a strong communicator who is customer focused with deep leadership capabilities. Furthermore, as a member of HP's board of directors for the past eight months, Meg has a solid understanding of our products and markets."
Whitman replaces Léo Apotheker, who HP said had decided to "step down."