HP has named Léo Apotheker as its next Chief Executive Officer and President, effective November 1st. Apotheker was previously the CEO of SAP, the world's largest business software applications corporation.

"Léo is 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," said Robert Ryan, lead independent director of the Board. "After more than two decades in the industry, he has a strong track record of driving technological innovation, building customer relationships and developing world-class teams."

Apotheker is succeeding Cathie Lesjak, who's been interim CEO since the Mark Hurd debacle back in August. [HP]