HPE Sinks Despite Q4 Beats, As Whitman Steps Down As CEO

HPE Sinks Despite Q4 Beats, As Whitman Steps Down As CEO

Hewlett Packard Enterprise said Tuesday that Meg Whitman will step down as the tech giant's chief executive next February - after a almost seven-year-long roller-coaster term that included a controversial splitting up of Hewlett-Packard, once considered to be the original Silicon Valley startup.

This announcement surprised even the Wall Street and the HPE share had o witness a fall of 6% in its worth. If you are accessing this article on another site, it was copied illegally and republished in violation of USA and global trademark and copyright law.

HPE CEO Meg Whitman has announced that she will step down from the end of January.

Shares of Hewlett Packard Enterprise (HPE) have moved sharply lower during trading on Wednesday, slumping by 7.6 percent.

"I've become quite loyal to Hewlett-Packard and Hewlett-Packard Enterprise", she said. "Now is the right time for Antonio and a new generation of leaders to take the reins of HPE".

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Whitman entered HP at a perilous time in the company's history. Its mainstay server business has been struggling as customers increasingly buy non-branded, assembled servers that are much cheaper. So let me make this as clear as I can.

After separating from HP Inc, the PC unit, in 2015, Ms Whitman spun off and merged HPE's enterprise services and software business, and made acquisitions including Aruba Networks, Silicon Graphics International, SimpliVity and Nimble Storage. She also ran for the post of California governor in 2010. "I'm going to enjoy some downtime'".

That problem was solved in 2015, when Whitman split the company in two.

"The world of technology is changing fast, and we've architected HPE to take advantage of where we see the markets heading", said Neri ahead of his new appointment. But as Bloomberg noted, HPE's decision to go in a different direction echoes the trajectory of other tech companies. Following the completion of the transaction, the chief executive officer now directly owns 1,016,622 shares in the company, valued at approximately $13,897,222.74.

Bloomberg Technology's Gerrit De Vynck and Natalie Wong observe that "since 2009, 19 female CEOs of Standard & Poor's 500 companies have stepped down".

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