Meg Whitman is stepping down from the CEO job at Hewlett Packard Enterprise
Hewlett Packard Enterprise announced on Tuesday that CEO Meg Whitman will resign effective February 1, 2018. She will remain on the board of directors.
She is being replaced by Antonio Neri, current President of HPE.More to come ...
Here is the press release:
Hewlett Packard Enterprise Announces Antonio Neri to Succeed Meg Whitman as Chief Executive Officer
PALO ALTO, Calif., Nov. 21, 2017 (GLOBE NEWSWIRE) -- Hewlett Packard Enterprise (NYSE:HPE) today announced that, effective February 1, 2018, Antonio Neri, current President of HPE, will become President and Chief Executive Officer, and will join the HPE Board of Directors. Meg Whitman, current Chief Executive Officer, will remain on the HPE Board of Directors.
"I'm incredibly proud of all we've accomplished since I joined HP in 2011. Today, Hewlett Packard moves forward as four industry-leading companies that are each well positioned to win in their respective markets," said Meg Whitman, CEO of HPE. "Now is the right time for Antonio and a new generation of leaders to take the reins of HPE. I have tremendous confidence that they will continue to build a great company that will thrive well into the future."
Meg Whitman was appointed President and CEO of HP in September 2011. Since then, she has executed against a five-year turnaround strategy that has repositioned the company to better compete and win in today's environment. Under her leadership, the company rebuilt its balance sheet, reignited innovation, strengthened operations and improved customer and partner satisfaction. It also made strategic moves to focus and strengthen its portfolio, most notably its separation from HP Inc., which was the largest corporate separation in history. She also led the subsequent spin off and mergers of HPE's Enterprise Services and Software businesses, as well as strategic acquisitions including Aruba, SGI, SimpliVity and Nimble Storage.
Under Whitman's leadership, significant shareholder value has been created, including nearly $18 billion in share repurchases and dividends. Since the birth of HPE on November 2, 2015, the company has delivered a total shareholder return of 89 percent, which is more than three times that of the S&P 500.
"During the past six years, Meg has worked tirelessly to bring stability, strength and resiliency back to an iconic company," said Pat Russo, Chairman of HPE's Board of Directors. "Antonio is an HPE veteran with a passion for the company's customers, partners, employees and culture. He has worked at Meg's side and is the right person to deliver on the vision the company has laid out."
"The world of technology is changing fast, and we've architected HPE to take advantage of where we see the markets heading," said Antonio Neri, President of HPE. "HPE is in a tremendous position to win, and we remain focused on executing our strategy, driving our innovation agenda, and delivering the next wave of shareholder value."
HPE's strategy is based on three pillars. First, making Hybrid IT simple through its offerings in the traditional data center, software-defined infrastructure, systems software, private cloud and through cloud partnerships. Second, powering the Intelligent Edge through offerings from Aruba in Campus and Branch networking, and the Industrial Internet of Things (IoT) with products like Edgeline and its Universal IoT software platform. Third, providing the services that are critical to customers today, including Advisory, Professional and Operational Services.