Meg Whitman Steps Down As CEO of Hewlett Packard

Pablo Tucker
November 22, 2017

Antonio Neri, the company's current president, will be taking over as CEO.

Whitman has been at the helm of the company since 2011, when she became president and CEO of Hewlett-Packard until 2015, when she was tasked with leading the tech giant's turnaround internally, and subsequent separation into two companies, HPE and HP Inc.

Hewlett Packard Enterprise CEO Meg Whitman, who took the one-time Silicon Valley behemoth from a debt-ridden company with long-in-the-tooth products into two smaller companies, is stepping down as CEO as of February 1, 2018.

Whitman, 61, took over Hewlett-Packard Co after it suffered a series of missed targets amid rising competition under her predecessor, Leo Apotheker. Hewlett Packard Enterprise Company (HPE) has made its way to a 12-month gain of 4.02%.

As CEO of Hewlett Packard Enterprise, Whitman has since spun-off the vendor's Enterprises Services division as DXC Technology and its Software division to Micro Focus.

Tuchman said his HPE business grew 32 percent this year and he expects it to grow at least 20 percent in 2018.

Check back later for our full analysis on HPE's earnings report!

Neri has been with the company since 1995, working his way up to the company's top ranks.

As the leader for HPE's largest business segment, comprising server, storage, networking and services solutions, Neri was responsible for setting the research and development agenda, bringing innovations to market, and go-to-market strategy and execution.

On Wednesday May 10, 2017, Barclays Capital released a statement for Hewlett Packard Enterprise Co (NYSE:HPE) bumped down the target price from $21.00 to $18.00 that suggested a downside of -0.05%. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.78 billion.

In related news, EVP Henry Gomez sold 55,200 shares of the firm's stock in a transaction dated Thursday, November 2nd. The company's quarterly revenue was up 2.5% compared to the same quarter previous year. Oppenheimer Holdings, Inc. reaffirmed a "buy" rating and issued a $17.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, September 1st. They had been little changed Tuesday before the announcements.

Whitman was the second-highest-paid American female executive, after IBM's Ginny Rometty, with compensation of $US52.3 million ($65 million), according to the Bloomberg Pay Index. Since 2009, 19 female CEOs of Standard & Poor's 500 companies have stepped down.

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.

HPE didn't say what's next for Whitman, who previously helmed online retailer EBay Inc.

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