In addition, Ray Lane has moved from non-executive chairman to executive chairman of the board of directors, and the board intends to appoint a lead independent director promptly.
Lane said, “We are fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP. We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead. Meg is a technology visionary with a proven track record of execution. She is a strong communicator who is customer focused with deep leadership capabilities. Furthermore, as a member of HP’s board of directors for the past eight months, Meg has a solid understanding of our products and markets.”
Whitman said, “I am honoured and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world. “Going forward, HP will have no higher priority than to meet the challenges of today’s macroeconomic environment and also to improve our operational performance. We will take the necessary actions to get HP back on track. That’s not something that’s going to happen overnight. It’s going to take time.”
The company has made no announcements how the change in leadership will affect the imaging and printing sectors of its business, preferring to talk in broad strokes. Speaking on behalf of the board, Lane added, “We very much appreciate Léo’s efforts and his service to HP since his appointment last year. The board believes that the job of the HP CEO now requires additional attributes to successfully execute on the company’s strategy. Meg Whitman has the right operational and communication skills and leadership abilities to deliver improved execution and financial performance.”
He added, “This board of directors cares deeply about Hewlett Packard. The decision to change the leadership of HP was one the board took carefully. It became increasingly clear that we needed new leadership to focus on operating our businesses.”
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