Monday, 11 December, 2017

Meg Whitman to Step Down as Hewlett Packard Enterprise CEO

HPE CEO Meg Whitman to step down in 2018 ars_ab.settitle(1208935); Meg Whitman to Step Down as Hewlett Packard Enterprise CEO
Juana Turner | 25 November, 2017, 01:01

"I have tremendous confidence that they will continue to build a great company that will thrive well into the future".

Ms. Whitman, 61, will retire in February, the company said on Tuesday. During her time at HP, the executive oversaw a hard time for the electronics giant, ultimately splitting the company in two: a personal computer and printing company headed up by EVP Dion Weisler, and HPE, an information technology company, where she retained her position as CEO.

Antonio Neri, current president of HPE, is set to replace Whitman. Also, there's "no chance" she'd join an HPE competitor or HP.

However, following Q4 results yesterday and the announcement Whitman was stepping down the company's share price dropped by 6%, according to Seeking Alpha. "He has worked at Meg's side and is the right person to deliver on the vision the company has laid out".

Neri has been with the company since 1995, working his way up to the company's top ranks. HPE added that its Storage, Networking and Technology Services surged 5%, 21% and 2%, respectively. He thinks the company is now in a "tremendous position to win".

Andreessen and others expect Whitman's next move could be in politics-she unsuccessfully ran for Governor of California in 2010-though in our August interview she said, "I'm definitely not doing that".

But when I profiled Whitman for Fortune's Most Powerful Women issue in September, there were mounting signs that she was nearing the end of her tenure-not that she would admit it.

"Given what she's done, there's not as many exciting things to do", Jayson Noland, a senior research analyst at Baird, told me at the time. "Uber's CEO will not be Meg Whitman". "I am fully committed to HPE and plan to remain the company's CEO".

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