Leo Apotheker said he relied on Autonomy's financials when he championed the deal. Prosecutors accuse its CEO, Michael Lynch, of fabricating those numbers.
April 30, 2024 at 12:58 PM
8 minute read
Leo Apotheker found himself on the witness stand Monday over the disastrous 2011 acquisition that has come to define his brief tenure as CEO of Hewlett-Packard.
The 70-year-old German business executive testified that he would not have recommended that HP’s board proceed with the $11 billion purchase of U.K. software firm Autonomy had he known that it had misrepresented its finances, as federal prosecutors allege.
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As HP’s CEO, Leo Apotheker championed the Autonomy purchase, but the board ousted him before it closed. Photo: Simon Dawson/Bloomberg
