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HP Reshuffles Management

PALO ALTO, Calif. ( TheStreet) -- Hewlett-Packard (HPQ - Get Report) announced a management shakeup Monday as CEO Leo Apotheker attempts to breathe new life into the number one PC maker.

In a statement released after the closing bell, the tech giant announced that CIO Randy Mott is leaving the company, effective immediately, and that Ann Livermore, executive vice president of HP's enterprise business, has been elected to the board.
HP CEO, Leo Apotheker

HP also confirmed that Dave Donatelli, executive vice president of the company's Enterprise Servers, Storage, Networking and Technology Services, will report directly to Apotheker, along with Bill Veghte, executive vice president of Software, and Jan Zadak, executive vice president of Global Sales.

"These businesses play a vital role in our continued growth and success, and as such, Dave, Bill and Jan will report directly to me and help drive the overall direction for HP," explained Apotheker, in a statement. "In our ongoing effort to accelerate our progress in executing our strategy, we will continue to make the necessary changes that streamline our operations, drive focus and agility, and position us for success."

Apotheker, who succeeded the ousted Mark Hurd last year, is clearly keen to remold HP, which is wrestling with weakness in consumer PCs and services. The company announced a sweeping boardroom reshuffle in January, less than two months before Apotheker revealed his long-term roadmap for the company, vowing to focus on cloud services and connectivity.

As part of its latest restructuring, HP says that it is streamlining its administrative operations, eliminating the role of chief administration officer. As a result, Pete Bocian, HP's executive vice president and chief administrative officer is leaving the company, effective immediately.

HP is also broadening the role of its CIO, according to its statement, and will now conduct a search for Mott's successor.

HP shares crept up 4 cents, or 0.12%, to $34.69 in late trades on Monday.

-- Written by James Rogers in New York.

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