HP had earlier announced that it would be spinning off its PC business, but now after CEO Leo Apothekar has been ousted, HP under the supervision of the new CEO Meg Whitman, has decided to keep the PC business. HP’s share prices rose 4.8% to $26.99 yesterday.
HP objectively evaluated the strategic, financial and operational impact of spinning off PSG [Personal Systems Group]. It’s clear after our analysis that keeping PSG within HP is right for customers and partners, right for shareholders, and right for employees,” said Meg Whitman, HP president and chief executive officer. “HP is committed to PSG, and together we are stronger.”
I’m wondering if it is the same strategy team that advised Apothekar, that now indicate that keeping the PC business is right for everyone. While HP is reversing its decisions, it might also consider rethinking the Web OS and TouchPad business. Who knows?