Former Autonomy CEO Mike Lynch is out at HP. His job will be taken over by Bill Veghte, who was leading the software business AND named chief strategy officer in January.Autonomy hasn’t been the killer software product that HP pumped it up to be. “Autonomy saw a significant decline in licence revenue,” HP revealed in its last quarter earnings press release and Meg Whitman called the product’s results “disappointing.”
She also said in a company conference call to analysts that the problem was not with the product, or with demand or because it was losing out to a competitor. She said it was “a classic entrepreneurial scaling challenge.” However she also acknowledged what employees have told us, that Autonomy hasn’t been integrated with other business units — like services — which would sure help it sell.
According to a recent report in Fortune, HP CFO Kathie Lesjak tried to stop HP from buying Autonomy for nearly $12 billion last summer, thinking the price was too high, but she lost that battle to then-CEO Leo Apotheker.
Veghte will retain his role as chief strategy dude.
Veghte could be the right choice. He joined the company in May 2010, after more than 20 years at Microsoft leading Windows marketing and other businesses.
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