Changing Faces: 5 Major Tech Companies with New CEOs
Tech companies are on the rise — a rapidly growing market for both existing business and startups. According to this study, online-based companies accounted for 21 percent of GDP growth while becoming a catalyst for new jobs. But with this tremendous growth, it’s also the sector where many new businesses try and fail.
While there are many factors to a company failing, many experts agree that even the greatest business will fail if under the wrong management. Fortunately, many tech companies are making changes for the better and thriving from a little shift in leadership.
Hewlett-Packard
Image via Flickr by megwhitman2010
Former eBay executive Meg Whitman took control of Hewlett-Packard back in September 2011. When Whitman took over, the company was in bad shape and only getting worse. The Former CEO, Leo Apotheker, was kicked out after an 11-month tenure due to poor performance. He left quite the mess to clean up: Stocks had gone down 44 percent and the overall revenue staggered at a dismal $30 billion, with profits on a steady decline.
Now, under the leadership of Whitman, the company is starting to recover from its previous loses. Though profits are still down, the numbers aren’t as massively negative as in years past, and the HP stock has already grown by 7 percent. Whitman is still confident that things will continue to look up, and urges investors that “This is a multi-year journey. We have a long way to go.”
Larry Page, one of the original co-founders of Google, took the company back from Eric Schmidt in April 2011. Since then, Google shares have skyrocketed by 48 percent. He was able to accomplish this by first closing services that weren’t profitable and had led to many acquisitions, including the $12.5 billion buy-out of Motorola.
Now, Google controls the majority of search and mobile advertising markets and Android continues to dominate the global smartphone market. Since Page’s comeback, Google’s revenue has increased 31 percent with a spike of 14 percent in the first quarter of 2013 — and that’s just the beginning. With upcoming projects like Google Glass, self-driving cars, and even rumor of launching retail stores, Google’s future is bright and wealthy.
Apple
Image via Flickr by deerkoski
Though Tim Cook was officially made CEO of Apple on Aug. 24, 2011, most say that he didn’t step into the position until former CEO, Steve Jobs, passed away Oct. 5, 2011. From that day, Cook has held the reins and has led Apple through some of record-breaking years. Apple shares reached an all-time high of 702.1 on September 2012, only to take a decline of 36 percent as of May 2013.
Despite this decline, shares are still up compared to the day Cook stepped up to the plate. Despite the criticism Cook has faced, he’s still considered one of the most influential voices in the world of tech and whom many aspire to emulate. With education, experience, and a strong network, anyone can prepare for success and follow in his footsteps
Yahoo
A former Google veteran, Melissa Mayer took control of Yahoo in the summer of 2012. Since then, she has managed to revamp the company’s image, update mundane products, and acquire 12 high-profile businesses including companies such as Tumblr and Qwiki. In less than a year, she has managed to raise the company’s stock by an impressive 68 percent, hitting $26.3 per share as of May 31, 2013.
Image via Flickr by University of Michigan’s Ford School
The oldest of the new CEOs, Dick Costolo gained control of one of the largest social media sites, Twitter, back in 2010. The former CEO, Evan Williams, stepped down to “focus on product strategy,” leaving Costolo at the helm. During his time as CEO, he has been praised for his ingenuity and influence. In 2011, he was appointed to the National Security Telecommunications Advisory Committee, where he serves alongside other big names in the tech community such as Microsoft’s Scott Charney and MacAfee’s David Dewalt. TIME Magazine has referred to Costolo as one of the 10 most influential US Tech CEOs.
These are just a few examples of how the under the right leadership, both failing and thriving companies can excel. There are hundreds of businesses out there looking for the right person to lead them into success.
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