Meg Whitman steps down as HP Enterprise CEO

24 November, 2017, 01:45 | Author: Sheri Evans
  • Meg Whitman to step down as CEO of Hewlett Packard Enterprise next year

Meg Whitman, the CEO who led the split of Hewlitt Packard into two companies in 2015, is stepping down as president of Hewlett Packard Enterprise in February after six years of leading the technology company through its hard transition.

This announcement surprised even the Wall Street and the HPE share had o witness a fall of 6% in its worth.

It is thought she may have her eye on the US Presidency.

Hewlett Packard Enterprise Company (NYSE:HPE) issued an update on its FY18 earnings guidance on Tuesday morning.

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Antonio Neri, now the president of HPE, will succeed Whitman as CEO. The company's stock dropped more than 7% in after-hours trading following that news and HPE's fourth quarter earnings report. She then become CEO of HPE.

Whitman, who formerly led eBay, may want to take some time to recoup after a dizzying half-dozen years. "Today, Hewlett Packard moves forward as four industry-leading companies that are each well positioned to win in their respective markets", said Whitman said.

A long-time HP executive, the 50-year-old was promoted to the role of president in June, raising speculation about Ms Whitman's succession plan.

She set about slashing jobs and dramatically resetting investors' expectations of how well the company could perform, at a time when customers were adopting cloud computing services that HP was ill equipped to provide. She supported Mitt Romney's presidential campaign and unsuccessfully ran for governor of California herself in 2010. "And when I said that, Antonio was exactly the kind of insider I had in mind". We have a lot of work still to do at HPE and I am not going anywhere. "She added: 'I've been working straight for 35 years".

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"Even after its massive split from HP Inc., HPE continued to shed off pieces of its business it deemed non-essential", he continues.

"The world of technology is changing fast, and we've architected HPE to take advantage of where we see the markets heading", said Neri ahead of his new appointment. Following the completion of the transaction, the chief executive officer now directly owns 1,016,622 shares in the company, valued at approximately $13,897,222.74.

Says Whitman: "We've got a very good leadership bench".

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