Report: HP To Split Its Business In Two
HP, the world’s second-largest PC vendor, plans to split into two businesses—one for PCs and printers, and one for corporate hardware and services—according to a report by The Wall Street Journal citing “people familiar with the matter.”
HP and its investors have been contemplating this change for a long time, the report says.
CEO Meg Whitman will be chairman of the new PC and printer business and chief executive of the separate “enterprise company” one source said, while board member Patricia Russo will be chairman of the enterprise company. Don Weisler, the current executive VP of HP’s printing and personal systems group, will step in as CEO of the PC and printer business, according to the report.
This isn’t the first time HP has attempted to spin off its PC business. In 2011, former Chief Executive Leo Apotheker tried to do just that. Investors rejected the move, and Apotheker was subsequently forced out. Whitman reversed the decision when she took over as CEO and began a “multiyear journey” to revive HP.
HP refused to comment on this story.