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HP Board Official Approves Separation of Company
October 3, 2015
This past Thursday, the board of the Hewlett-Packard Company officially approved the formal separation of the company into two independent companies beginning November 1, 2015. The two new companies will be Hewlett Packard Enterprise Company and HP Inc.
Hewlett Packard Enterprise will focus on continued development of “ cutting-edge technology solutions enterprises need to optimize their traditional IT while helping them build a secure, cloud-enabled, mobile-ready future”. In other words, this will be where HP Enterprise software, solutions, and services will reside. Current HP CEO Meg Whitman will be over this company.
HP Inc. will take the other major part of HP, the top-ranking printing and personal systems group, including their PC business. Dion Weisler, currently serving as Executive Vice President of Printing and Personal Systems, will assume the role of President and CEO of HP Inc.
HP Inc. is the group that will work to develop the presence of HP as a leader in the crowded 3D printing space where they will face stiff competition from established competitors such as MakerBot, 3D Systems, and Stratasys. HP Vice President Stephen Nigro has been appointed as the executive in charge of these efforts. Some reports online have indicated to jumpstart their ascension, the company may be interested in acquiring Stratasys or 3D Systems. Regardless, HP is expected to enter the market with their own HP Multi Jet Fusion™ printer in 2016.
Meg Whitman, Chairman, President and Chief Executive Officer, HP , said, "This separation will enable us to accelerate the turnaround we began four years ago. As two independent, industry-leading companies, Hewlett Packard Enterprise and HP Inc. can drive more focused business strategies, innovation roadmaps, and go-to-market models. The separation will also present better choices for investors by creating two distinct and attractive investment profiles."
It will undoubtedly be a very interesting next several months not only for HP, but for the entire printing industry as well. We will continue to report on the news as it happens, so please check back for updates as you are able.