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

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

She will remain on HPE's board.

Whiteman, who is considered and respected as one of the most high profile business professionals in the USA said that she would be handing over the charge in February next year.

"Her plans, she said, are not yet set".

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"Today, Hewlett Packard moves forward as four industry-leading companies that are each well positioned to win in their respective markets", Whitman said.

Since the breakup, Palo Alto, California-based HPE has furthered its transformation, spinning off a big chunk of its business software line-up past year in an $8.8 billion deal with Micro Focus International PLC. As Hewlett Packard Enterprise exits its low-margin, high-volume Microsoft contract, the firm expects a negative impact on the top line to linger well into fiscal 2019 and possibly early 2020.

Antonio Neri, now the president of HPE, will succeed Whitman as CEO.

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Hewlett Packard Enterprise announced that its board has approved a stock repurchase plan on Wednesday, October 18th that authorizes the company to repurchase $5.00 billion in shares.

Reuters Shares of Hewlett Packard Enterprise Co. fell 6 percent on Wednesday after Chief Executive Officer Meg Whitman's decision to step down from the role took Wall Street by surprise. So let me make this as clear as I can. "I'm going to enjoy some downtime'". Since the two companies began trading separately on Oct 19, 2015, the HPE stock has gained 47 per cent. "She added: 'I've been working straight for 35 years".

During HPE's quarterly earnings conference call on Tuesday, Wall Street analysts asked Whitman why she was leaving now after she had so recently said she was staying put. We've got strategy that's crystal clear and focused. Victory Capital Management Inc. now owns 12,166,742 shares of the technology company's stock worth $178,973,000 after purchasing an additional 1,900,630 shares in the last quarter.

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Whitman ran unsuccessfully for California governor in 2010, and she has served on the presidential campaigns of Republican former Massachusetts Governor Mitt Romney and New Jersey Governor Chris Christie. "The next CEO of the company needs to be a deeper technologist, and that's exactly what Antonio is".

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