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Tuesday, March 19, 2024
March 19, 2024

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HP selects team to manage split into two companies

The Columbian
Published:

SAN FRANCISCO — Hewlett-Packard Co. is moving forward with its plan to split into two companies, and has moved several executives into new roles to execute the plan.

Chris Hsu, senior vice president of operational performance, will lead the separation of HP Enterprise, which will sell hardware and consulting services to corporate clients, according to an internal memo obtained by Bloomberg News on Thursday.

Enrique Lores, senior vice president for Business Personal Systems, will help the personal computer and printer units form their own company, which will be called HP Inc. Jim Murrin, chief operating officer of the Enterprise Group, will lead the team that will divide Hewlett-Packard’ finance, tax, contracts and legal systems.

Chief Executive Officer Meg Whitman, who will helm HP Enterprise after the split, announced the breakup last month so that the two businesses could better compete in a fast-changing environment. Dion Weisler, the executive vice president of the Printing & Personal Systems Group, will lead HP Inc. The separation, which will incur restructuring costs of about $600 million, is a complicated task involving more than 300,000 employees, offices across the globe and a network of partnerships forged since the company was founded in a Palo Alto, Calif., garage in 1939.

Bill Veghte, who was leading Hewlett-Packard’s enterprise business, will be part of a three-person team to plan HP Enterprise’s strategy and guide it through its separation, according to the memo. He’ll work with Mike Nefkens, head of enterprise services, and Robert Youngjohns, who is in charge of software. Antonio Neri, vice president and general manager of Hewlett-Packard’s server and networking business units, will take Veghte’s previous role and continue to report to him.

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