HP CEO Dion Weisler steps down

25 Août, 2019, 03:47 | Auteur: Auguste Feret
  • The move was announced in tandem with HP's third quarter results which saw weak performance in its printing business

HP named Enrique Lores president and CEO to succeed Dion Weisler Nov. 1.

Over the past year, Lores has been working with the HP board on a comprehensive global review of the company's strategy and business operations, with a focus on simplifying its operating model, evolving its business models and driving significant improvement in its cost structure while making the company more digitally enabled and customer-centric.

Mr Lores is now HP's president of imaging, solutions and printing, with Wiesler remaining at the helm until January 2020. "I'm incredibly proud of what we have achieved and equally confident in where we're heading as a company", said outgoing CEO Weisler.

The company said Weisler, 52, is leaving the role to attend to a family health matter.

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Weisler will work with Lores to ensure a seamless transition and will remain at the company through January 2020.

Weisler's departure comes as the company announces its third-quarter financial results showing a 5.3 percent decline in revenue from its printing division balanced by a 3.1 percent growth in its considerably larger personal computing arm - of which the growth was entirely in business PCs, with consumer hardware dropping by 11 percent year-on-year. "Thirty years ago, I was drawn to HP by the company's unique ability to bring out the best of humanity through the power of technology", he said. He said in a statement that he believes HP is well-positioned to continue its growth, citing promising new businesses such as digital manufacturing.

HP Thursday reported that its print supplies revenue dropped 7 percent during its fiscal third quarter of 2019, ended July 31, compared with the same period a year earlier.

The company's earnings for the past quarter exceeded analyst estimates that steer investor expectations, but HP's guidance might lag analyst projections for the current quarter. It's critical that we do some because the needs of our customers are rapidly changing, and we must become a more agile organization that is framers to fully capitalize on the opportunities ahead. When HP and HPE split, the market's money was on HPE to soar while the legacy and commoditized PC and printer business would stagnate. That was up from non-GAAP net earnings of $840 million, or 52 cents per diluted share, during the same quarter in 2018.

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