Shares of HP climbed approximately 7% on reports that the board is bearing in mind sacking CEO Léo Apotheker.

HP schemes to propose the designation to earlier eBay Meg Whitman. Whitman is an HP director from near the beginning of this year. She worked as eBay’s head and Chief executive Officer for 10 yrs.

HP’s board is scheduling to congregate this afternoon, the Fortune source said. A company spokeswoman refuses to comment. Shares have been raised almost about 10p.c soon after the statement, and they clogged 6.7% upper.

The information of the probable expulsion arrives 9 days before of the one-year anniversary of Apotheker’s recruitment. That statement concluded 2months of rumor about who might replace Mark Hurd, who hastily quitted as HP’s CEO after the corporation found that he presented fake expense descriptions to conceal a private connection with a marketing service provider.

Apotheker, former Chief executive Officer of SAP, was a shocking option as an outside contender.

HP had been extensively anticipated to hire an interior employee.

Apotheker arrived with his own plaid history. He worked for a short period as CEO and for many years in further top positions at SAP, which is stressed to hold its marketplace share against attacks from Oracle and IBM. Subsequent to more than 20 years at SAP, Apotheker was expelled in 2009.

When Apotheker joined the corporation, he got an yearly income of 1.2 million dollar, plus a 4 million dollars signing bonus and an extra 4.6 million dollar for repositioning help and to counterbalance imbursements from SAP that Apotheker surrendered by taking up the fresh job.

He was also entitled for a cash benefit of 6 million dollar for 2011.

Apotheker was also destined to amass a boatload of HP stock, but he will have to stay at HP for 3years in order for all of it to vest. In a whole, Apotheker’s hiring contract with HP gave him the prospect to amass cash and stock reimbursement over3 years value up to 53 million dollars. If sacking, it could deny him of a large fraction of that bonus.