By Gautham Nagesh - 08/06/10 10:40 PM EDT
"This is a painful decision for me to make after five years at HP, but I believe it would be difficult for me to continue as an effective leader at HP and I believe this is the only decision the board and I could make at this time," he added, calling the company "exceptionally well positioned strategically."
A search committee has been formed to find a new chief executive; Lesjak has removed herself from consideration for the position.
“I accept the position of interim CEO with the clear goal to move the company forward in executing HP’s strategy for profitable growth. We have strong market momentum and our ability to execute is irrefutable as demonstrated by our Q3 preliminary results,” she said.
HP reported preliminary results for the fiscal third quarter; revenue rose 11 percent over one year ago to $30.7 billion.