Speaking of post-PC pain, the trouble at Hewlett-Packard (HPQ) just got worse as the company’s five-year turnaround plan stalled almost right out of the gate. Revealed at the end of 2012, the plan was supposed to give the company a big push into enterprise and software services … but current CEO Meg Whitman told analysts last week that HP is way behind on revenue plans.
Whitman, a former head of eBay (EBAY), was named CEO of HP in late 2011 after musical chairs that included seven CEOs since 1999. She has put in almost two years, and has had plenty of time to explain her turnaround plan and vision to investors.
If that turnaround is doomed … well, Meg Whitman may be doomed too. But before shareholders kick her out, they should probably ask themselves who in the world would be happy taking over HP after yet another management failure.
Jeff Reeves is the editor of InvestorPlace.com and the author of The Frugal Investor’s Guide to Finding Great Stocks. Write him at firstname.lastname@example.org or follow him on Twitter via @JeffReevesIP. As of this writing, he did not own a position in any of the stocks named here.