Meg Whitman Out As CEO Of HP Enterprise, Stock Tumbles

Is it just us, or are corporate executives exiting almost as fast as Hollywood sex perverts?

Moments after we learned that the head of Pixar and animation at Disney was taking a leave of absence due to "kissing, groping" missteps, HP Enterprise announced that long-time CEO Meg Whitman is stepping down effective February 1, 2018. And no, no sexual harassment here, although in light of the business' secular decline that may have been a better option for shareholders.

Then again, shareholders certainly had it nice when Whitman's biggest achievement appears to have been the following (from the press release): "Under Whitman’s leadership, significant shareholder value has been created, including nearly $18 billion in share repurchases and dividends."

As for Whitman's next steps, we look forward to her entry in the 2020 presidential race, although it is not exactly clear if she will run as a democrat or republican.

From the release:

Hewlett Packard Enterprise (NYSE:HPE) today announced that, effective February 1, 2018, Antonio Neri, current President of HPE, will become President and Chief Executive Officer, and will join the HPE Board of Directors.  Meg Whitman, current Chief Executive Officer, will remain on the HPE Board of Directors. 

 

“I’m incredibly proud of all we’ve accomplished since I joined HP in 2011.  Today, Hewlett Packard moves forward as four industry-leading companies that are each well positioned to win in their respective markets,” said Meg Whitman, CEO of HPE. “Now is the right time for Antonio and a new generation of leaders to take the reins of HPE. I have tremendous confidence that they will continue to build a great company that will thrive well into the future.”

 

Meg Whitman was appointed President and CEO of HP in September 2011.  Since then, she has executed against a five-year turnaround strategy that has repositioned the company to better compete and win in today’s environment.  Under her leadership, the company rebuilt its balance sheet, reignited innovation, strengthened operations and improved customer and partner satisfaction.  It also made strategic moves to focus and strengthen its portfolio, most notably its separation from HP Inc., which was the largest corporate separation in history.  She also led the subsequent spin off and mergers of HPE’s Enterprise Services and Software businesses, as well as strategic acquisitions including Aruba, SGI, SimpliVity and Nimble Storage. 

 

Under Whitman’s leadership, significant shareholder value has been created, including nearly $18 billion in share repurchases and dividends.  Since the birth of HPE on November 2, 2015, the company has delivered a total shareholder return of 89 percent, which is more than three times that of the S&P 500.   

 

“During the past six years, Meg has worked tirelessly to bring stability, strength and resiliency back to an iconic company,” said Pat Russo, Chairman of HPE’s Board of Directors. “Antonio is an HPE veteran with a passion for the company’s customers, partners, employees and culture. He has worked at Meg’s side and is the right person to deliver on the vision the company has laid out.”

HPE stock is down 8% on the news.

Comments

junction aliens is here Tue, 11/21/2017 - 16:49 Permalink

Between Meg Whitman and Carly Fiorina, HP is a dead company walking.  I remember being in a Costco and asking the sales associate there to test out a HP copier with a $5 bill.  The copier rejected the command, it had been programmed to detect U.S. currency and not copy it.  Too bad the HP Board of Directors does not have a device to block appointments of worthless POS CEOs. 

In reply to by aliens is here

helloimjohnnycat junction Tue, 11/21/2017 - 17:57 Permalink

Great comment !Fatt cuntts like Meg do score in the IQ dept.But these fat-assed old broads need to roll-on and Ban themselves from business, and certainly public servitude.Doesn't take more than three days before they begin to stink.When po' things are made like a woman, but look like a man, it's no Secret somebody else is holding us up. 

In reply to by junction

silverer Tue, 11/21/2017 - 16:19 Permalink

Before she can run as a democrat, she has to have reached several milestones regarding crimes committed in the past and if she was convicted or skated out of it. It's important to have those skills, you know.

Anonymous_Sources Tue, 11/21/2017 - 16:19 Permalink

Under Whitman’s leadership, significant shareholder value has been created, including nearly $18 billion in share repurchases and dividends. Says it all right there, a true leader, 

Buckaroo Banzai Tue, 11/21/2017 - 16:20 Permalink

" Under Whitman’s leadership, significant shareholder value has been created, including nearly $18 billion in share repurchases and dividends.  Since the birth of HPE on November 2, 2015, the company has delivered a total shareholder return of 89 percent, which is more than three times that of the S&P 500. "My dog could be easily trained to buy stock back every quarter for seven straight quarters. Meg obviously went to school on IBM, which is not surprisingly helmed by yet another overrated female CEO. 

Ignorance is bliss Gorgeous Tue, 11/21/2017 - 19:10 Permalink

I'm sorry honey but you're not too bright. Meg is a dog that doesn't hunt and someone taught her to buy stocks on a quarterly basis. I compete in the tech field everyday and I haven't seen HP as a serious threat in years. They sell me too server blades that have razor thin margins. So what..Dell, Lenovo, micron eat their lunch. Hp is on its way to the graveyard without a miracle. They lost their way under Herd, Fiorino, and now Meg. They all sucked.

In reply to by Gorgeous

Yen Cross Tue, 11/21/2017 - 16:20 Permalink

  She's a horrible CEO. She fucked up E-Bay then ran to" we be computers and shit" and also fucked that up. I hope she runs for POTUS.  The bitch is evil, and vetting will show.