Billionaire Meg Whitman Stepping Down as HP Enterprise CEO

24 November, 2017, 01:44 | Author: Lora Ball
  • Meg Whitman steps down as HPE CEO shares tumble

Whitman oversaw the split of HP into HPE - the data centre business and HP - the PC and printer business. As a measure to turn around the business, Whitman brought several changes in the firm, including thousands of layoffs. Whitman shot down the reports by tweeting: "I am fully committed to HPE and plan to remain the company's CEO". While we believe it will be hard to replace Meg Whitman's vast business experience, the assignment of Neri, who brings a solid background in technology, may signify a further focus on fostering innovation and product development for the much slimmer firm competing in an IT infrastructure market facing secular headwinds.

Over the summer, Whitman was reportedly on the short list for the CEO role at Uber, after cofounder and CEO Travis Kalanick was forced to resign by the company's board.

Meg Whitman said in July she had no plans to stop being CEO of Hewlett Packard Enterprise.

Whitman, who formerly led eBay, may want to take some time to recoup after a dizzying half-dozen years.

More news: North Korea slams new measure against Nuclear development

Meanwhile, HPE's decision to offer the CEO's post to Neri has been appreciated by many, including equity analyst Ilya Kundozerov.

"We are surprised by the timing of the CEO transition given commentary at the recent analyst day that seemed to imply a CEO transition was not in the offing", BMO Capital Markets analyst Tim Long said in a research note. That declaration followed her public admission that she had had discussions about becoming the next CEO of Uber and amid concerns that those discussions could be seen as a lack of commitment to HPE and jeopardize her future there. She endorsed Democrat Hillary Clinton in the 2016 US presidential election. She also ran for the post of California governor in 2010. The job ultimately went to Expedia's Dara Khosrowshahi.

"Let me be the first to speculate this outcome - Meg Whitman, Democratic nominee, presidential race 2020". "I love this company and I wouldn't ever go to a competitor".

Her resignation comes just two months after Whitman promised she was "not going anywhere". "At the time, she said that she had achieved the main goal she set when becoming CEO in 2011, of turning around a company that was losing ground in all its main markets", reports Richard Waters for Financial Times.

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