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News Summary: HP taps software exec as COO

The Associated Press

PROMOTION: Bill Veghte is the new chief operating officer at Hewlett-Packard Co. He had been running HP's software division.

THE SIGNIFICANCE: The appointment shows that new CEO Meg Whitman intends to lean heavily on Veghte as she tries to boost HP's earnings and sagging stock price.

DUTIES: Veghte will continue to shape HP's strategy as it focuses on delivering software services over the Internet, data analysis and computer security.