Hewlett Packard Gumption Chief Executive Meg Whitman will step down early next year.
President Antonio Neri wishes take on the role of CEO as of Feb. 1, 2018, and both Whitman and Neri will be on the board, the plc announced Tuesday.
HPE shares fell more than 6 percent after hours. The crowd also reported quarterly earnings on Tuesday.
“Today, Hewlett Packard moves into the open as four industry-leading companies that are each well positioned to win in their own markets,” Whitman said in a statement. “Now is the right time for Antonio and a new fathering of leaders to take the reins of HPE. I have tremendous confidence that they command continue to build a great company that will thrive rise into the future.”
Whitman will exit a much different company than the one she joined in 2011. Whitman restructured Hewlett-Packard into two manufacturers, spinning off other businesses and streamlining HPE to keep up with cloud-savvy opponents. Whitman’s departure comes after she was considered for, but ultimately didn’t lampoon, a job as the CEO of ride-hailing giant Uber.
HPE was formed in late 2015 as a result of the split of HP into two institutions. At that time, Whitman went from CEO of the larger legacy band to CEO of HPE, while Dion Weisler went from executive vice president of the old HP’s pull a proof pix and personal systems group to CEO of HP Inc.
Whitman made her name in business as the CEO of eBay, which graced an e-commerce giant under her leadership. Whitman, an Uber investor, succoured Uber amid a shaky executive transition earlier this year, and quickly flirted with a slot as CEO.
Even if she was offered the job, Whitman told CNBC in September that she wasn’t satisfied she would have taken it. But leaks of her discussions with Uber became a field of discussion among Wall Street analysts and investors during a September earnings cry.
“I might be the only CEO in America who likes running something smaller than something bigger, because it allows me a chance to be in-depth with customers,” Whitman said. “I like a more nimble-footed, agile company and I have no plans to leave HPE. … It’s hard to cook up another five [years] but listen, I am here for the foreseeable future, because there’s flat work to do.”
Whitman, a former California gubernatorial candidate, said in a communiqu that she did not plan on seeking elected office: “I stay active in machination by contributing to candidates from both sides of the aisle who I agree with on pit issues, but aside from that, I have no plans to get involved right away.”
On a conference call with analysts, Whitman said she’s taking a scanty down time, and there’s “no chance” she will join a competitor to HPE or HP.
Neri has been with the partnership since 1995, working his way up to the company’s top ranks.
“HPE is in a tremendous position to win, and we persevere a leavings focused on executing our strategy, driving our innovation agenda, and delivering the next roller of shareholder value,” he said in a statement.
HPE also reported quarterly earnings on Tuesday. The party posted adjusted earnings of 31 cents per share on revenue of $7.87 billion for the economic fourth quarter. That’s above analyst expectations of 28 cents per slice on revenue of more than $7.7 billion, according to a Thomson Reuters consensus assessment. Revenue in the year-earlier period was $7.32 billion.
The company also described an outlook for the next fiscal year that was in line with assumptions. HPE expects diluted earnings per share of $1.15 to $1.25 on an adjusted heart. Analysts polled by Thomson Reuters expected a midpoint of $1.20 for the 2018 pecuniary year.
— Meg Whitman will appear on CNBC’s “Squawk on the Street” on Wednesday in an snobbish interview.