Prith Banerjee has been running HP Labs for five years but he’s out the door on April 15, AllThingsD reports.HP’s research and development organisation has been under increasing scrutiny as HP struggles to regain a reputation for innovation.
CEO Meg Whitman made the change, AllThingsD says, because she wants the Labs to spend its billions on tech that can more quickly be turned into hot products. HP spent $3.3 billion on R&D in its 2011 fiscal year, or about 2.5 per cent of sales.
HP is searching for a replacement and has named HP research fellow Chandrakant Patel the temporary head of the Labs.
Whitman got pounded by investors at its annual meeting last month who wanted to know why the company has lagged so far behind in innovation, especially compared to rival Apple.