The OEM’s split into HP Enterprise and HP Inc. will take place in November, with more information revealed about the division.
CBR Online reported on HP’s plan to split into two separate companies – HP Enterprise and HP Inc. – in November this year, having announced the split last October. The news outlet stated that the split forms part of HP’s “five year turnaround plan to improve shareholder value”.
The PC and printing side, HP Inc., will 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. HP Inc. will aim to deliver “innovations that will empower people to create, interact and inspire”, whilst Hewlett-Packard Enterprise will “define the next generation of technology infrastructure, software and services for the new style of IT”.
More details on the split were also revealed, with the headquarters in Palo Alto, California set to diverge between the two companies. Whitman was quoted as telling shareholders that “as we go around the world, each location will be divided between HP Inc. and HP Enterprise”. HP Inc. will also retain the HP logo.
Whitman stated in October of the split: “Our work during the past three years has significantly strengthened our core businesses to the point where we can more aggressively go after the opportunities created by a rapidly changing market. The decision to separate into two market-leading companies underscores our commitment to the turnaround plan.
“It will provide each new company with the independence, focus, financial resources, and flexibility they need to adapt quickly to market and customer dynamics, while generating long-term value for shareholders. In short, by transitioning now from one HP to two new companies, created out of our successful turnaround efforts, we will be in an even better position to compete in the market, support our customers and partners, and deliver maximum value to our shareholders.”