The OEM’s board of directors has officially approved the split into HP Inc. and Hewlett Packard Enterprise.
In a press release, the OEM reported on the board’s approval of the OEM’s split – announced last October – into two separate companies, Hewlett Packard Enterprise and HP Inc., from 1 November 2015, with the PC and printing side, HP Inc., to be run by Dion Weisler as President and CEO, whilst Meg Whitman will be President and CEO of Hewlett-Packard Enterprise, the software and services side.
The announcement included details of a “distribution to HP stockholders of 100 percent of the outstanding shares of Hewlett Packard Enterprise”, and from 19 October until 1 November, preview trading of Hewlett Packard Enterprise shares will take place on the New York Stock Exchange (NYSE).
Whitman stated: “This separation will enable us to accelerate the turnaround we began four years ago. As two independent, industry-leading companies, Hewlett Packard Enterprise and HP Inc. can drive more focused business strategies, innovation roadmaps, and go-to-market models. The separation will also present better choices for investors by creating two distinct and attractive investment profiles.”