Hewlett-Packard Co announced on Thursday that former eBay Inc Chief Executive Meg Whitman will replace Leo Apotheker as CEO, effective immediately.

The largest U.S. technology company said in a statement it will also appoint a lead independent director promptly. Ray Lane becomes executive chairman of the board, moving from non-executive chairman previously.

We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead, Lane said in the statement.

(Editing by Richard Chang)

Ebay HP Meg Whitman