Hewlett-Packard Co on Thursday said four directors are leaving, as a company shake-up continues under new Chief Executive Leo Apotheker.

HP, still reshaping itself after the recent ouster of CEO Mark Hurd, also named five new directors.

The new directors are Meg Whitman, former CEO of eBay; Shumeet Banerji, CEO of Booz & Co; Gary Reiner, former chief information officer of General Electric Co; Patricia Russo, former CEO of Alcatel-Lucent; and Dominique Senequier, CEO of AXA Private Equity;

The technology giant said directors Joel Hyatt, John Joyce, Robert Ryan and Lucille Salhany will not stand for reelection by shareholders.

The changes will leave HP with 13 board members.

Gleacher & Co analyst Brian Marshall said investors should welcome the move,

Net-net I think this is a big positive. To shake it up a little bit and get some of the old school guys out of there and get some new school blood in there, highlighted by Meg Whitman, this is a positive development, he said.

Apotheker, the former CEO of SAP AG, took over as chief of HP in November.

Hurd was forced out in August for filing inaccurate expense reports. Hurd's exit was contentious -- involving charges of sexual harassment that proved baseless -- and prompted a number of analysts, shareholders and other business leaders to criticize HP's board.

Shares of Palo Alto, California-based HP were down 4 cents at $46.74 following announcement of the board changes, which came after the stock closed down 0.9 percent at $46.78 on the New York Stock Exchange.

(Reporting by Gabriel Madway; Editing by Steve Orlofsky, Gary Hill)