The man who organise HP ’s disastrous $ 11.1 billion purchase of Autonomy — a ship’s company whose accounting improprietiesjust cost the laptop behemotha whack $ 9 billion — is Léo Apotheker . So what does the homo who let an accomplishment of this sizing go through without proper due diligence conceive about the deal after today ’s revelations ?
https://gizmodo.com/company-hp-bought-for-11-billion-just-cost-hp-9-billi-5962107
Totally not his shift . Naturally .
Apothekerreleased a statement to the Wall Street Journalthis morning saying that the due diligence process was “ meticulous and thorough , ” despite the fact that it missed a $ 9 billion - sized maw in Autonomy ’s accounting . He also carry that he “ continues to conceive in Autonomy ’s market potency , ” which is like saying that you entrust the gang to operate a good garbage assembling service .
It ’s hard to tell how much Apotheker actually believe what he ’s say and how much he ’s trying to cover himself for when the eventual , inevitable cause start flying . While he wasousted as HP ’s CEOjust months after the Autonomy deal go through , it still happened under his lookout . The account statement firm HP hired should have done a better line of work , sure , and Autonomy should n’t have lied in the first seat . But the buck stops at the ( former ) chief operating officer . Or , according to his statement , everyone else :
https://gizmodo.com/really-hp-youre-going-to-fire-your-ceo-now-5842516
According to HP , the accountancy issue it see pre - see its acquisition of Autonomy . As such , it ’s ostensible that Autonomy ’s aver method of accounting deceit misled a number of citizenry over clock time – not just HP ’s leaders squad , listener and director . In fact , the say improprieties ostensibly hail to light only after an intragroup whistleblower raised the result in the springtime , well after my departure .
Watching this affair unravel has all the allure and subtlety of a NASCAR batch - up . Which is to say , lots . It ’s a longsighted way to the bottom ; we ’ll be watching the excavation from a prosperous death chair with a bag full of thinly salt popcorn . [ WSJ ]
Image credit : AP / Anonymous
Daily Newsletter
Get the best tech , science , and culture tidings in your inbox daily .
News from the futurity , delivered to your present .
