HP’s CEO Steps Down, His Successor is Named

Palo Alto, California-based HP announces a changing of the guard at the top, as Dion Weisler says he is stepping away from his position of president and CEO due to a “family health matter.” He will be stepping down Nov. 1 and ultimately returning home to his native Australia.

Enrique Lores, currently president of HP’s Imaging, Printing and Solutions business, will take over Weisler’s positions. Weisler says he’ll continue to work with Lores to ensure a seamless transition through January 2020. Following this, Weisler will continue to serve on HP’s board of directors until the next annual meeting of stockholders.

Weisler joined HP in 2012 and has served as president and CEO since 2015. HP has added approximately $7 billion in annual revenue, generated more than $13 billion in free cash flow, and has met or exceeded its non-GAAP EPS guidance for 15 consecutive quarters since the split of the Hewlett-Packard company in 2015.

“Serving as CEO of HP is the highlight of my career, and I want to thank the entire HP team for the support they have shown me. I’m incredibly proud of what we have achieved and equally confident in where we are heading as a company,” says Weisler. “Enrique has been a tremendous partner whose leadership has been instrumental in setting this company up for success and delivering on our strategy. He is one of the smartest people I know, and I have great confidence in his ability to lead and inspire the next chapter of HP’s transformation and growth.”

“On behalf of the board, we respect Dion’s decision to support the needs of his family,” says Chip Bergh, chair of HP’s board of directors. “We thank him for leading HP post-separation, building a strong team and restoring the company to drive strong shareholder value creation over the last four years.”

Lores began his HP career 30 years ago as an engineering intern and has risen to increasingly prominent leadership positions across the company’s Print, Personal Systems and Services businesses. From his technical roots, he has developed broad leadership expertise and relationships working at the country, region and worldwide level, the company says.