Hewlett-Packard’s shares plunged 13 percent to $14.91 yesterday after CEO Meg Whitman warned of an unexpectedly steep earnings slide in 2013.
Whitman, who took the helm just over a year ago after CEO Mark Hurd resigned in the wake of a scandal, told investors that HP’s recovery will become visible only in fiscal 2014.
“The single biggest challenge facing Hewlett-Packard has been changes in CEOs and executive leadership, which has caused multiple inconsistent strategic choices, and frankly some significant executional miscues,” Whitman said.