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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Ex-SAP CEO Leo Apotheker named to head HP AFP - Friday, October 1 Send IM Story Print WASHINGTON (AFP) - – Hewlett-Packard named Leo Apotheker, a veteran software executive, as chief executive and president as the world's largest computer manufacturer gears up to tackle new markets. Apotheker, 57, who resigned as CEO of Germany's SAP in February after a brief tenure, replaces Mark Hurd, who resigned as HP chief in early August after a sexual harassment probe uncovered subterfuge with company expenses. Apotheker, who spent more than 20 years at SAP, one of the world's largest business software companies, was also named to the HP board of directors. He will begin work at HP on November 1. The choice of Apotheker came as something of a surprise to financial analysts, many of whom had been expecting a company insider to be named to replace Hurd. Financial website 247WallSt.com described Apotheker as an "interesting choice" and said "due to the nature of a weak SAP, some will question this CEO placement." HP shares were down 3.02 percent at 40.80 dollars in after-hours electronic trading following the announcement after losing 1.08 percent during the day's trading on Wall Street. As competition increases in the crowded market for personal computers and printers, HP has been steadily expanding its offerings to include information technology services, software and storage. Earlier this month, HP completed its 2.35-billion-dollar acquisition of data storage firm 3PAR and in April it purchased US mobile phone maker Palm for 1.2 billion dollars. HP chief financial officer Cathie Lesjak has been serving as interim CEO since Hurd stepped down. HP said she will remain CFO of the company. Hurd, the former HP CEO, joined business software maker Oracle this month, prompting a lawsuit against him by HP which was quickly dropped. SAP, Apotheker's former firm, is an Oracle rival and in what is being seen as a jab at Oracle, HP on Thursday named Ray Lane, Oracle's former president and chief operating officer, as nonexecutive chairman of the HP board. In a statement, HP board member Robert Ryan called Apotheker a "strategic thinker with a passion for technology, wide-reaching global experience and proven operational discipline -- exactly what we were looking for in a CEO. "After more than two decades in the industry, he has a strong track record of driving technological innovation, building customer relationships and developing worldclass teams," Ryan said. "Leo has been a leader in anticipating the transformation taking place in our industry, and we believe he is uniquely positioned to help accelerate HP's strategy," Ryan continued. "He has demonstrated success in the US market and also has vast international experience -- which will be a major asset as HP continues to expand globally, particularly in high-growth emerging markets," he said. In a statement, Apotheker said he was "deeply honored to be joining the more than 300,000 dedicated HP employees." "Given HP's diversified products and services, its financial strength, and its leadership position across markets, no other company is as well positioned to drive -- and profit from -- the revolutionary changes under way in the marketplace," he said. Born September 18, 1953 in Aachen, Germany, Apotheker speaks five languages -- English, Dutch, French, German and Hebrew -- and is a graduate of Hebrew University in Jerusalem. He served in a variety of positions at SAP before becoming CEO, including head of worldwide sales, service, and field operations. Apotheker also headed SAP's North America, Europe, Middle East and Africa operations during his career and was CEO and founder of SAP France and SAP Belgium. Recommend Send IM Story Print Related Articles US-TECH Summary Reuters - 1 hour 58 minutes ago India rejects RIM corporate email solution: report Reuters - Friday, October 1 Ex-SAP CEO Leo Apotheker named to head HP AFP - Friday, October 1 Three top executives leaving Yahoo! 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