HPs Dion Weisler Steps Down Citing Family Reasons

HPs Dion Weisler Steps Down Citing Family Health Reasons

News has broken on many sources late Thursday afternoon, August 22 that HP Inc.’s president and CEO Dion Weisler will step down, citing a “family health matter.” According to techcrunch.com, Weisler will return home to Australia.

“The company already has a successor lined up, as its president of Imaging, Printing and Solutions, Enrique Lores, got unanimous approval from its board of directors. Lores will be assuming the top spot on November 1.”

According to cnbc.com, “HP shares popped before falling about 5% after the announcement and the release of the company’s earnings report.”

CNBC.com also reported “Weisler has served as president and CEO of HP since 2015, three years after he first joined the company. Weisler took the top seat of the printing and computing business after it split from the corporate hardware and services business that now falls under HP Enterprise. HP’s stock price has risen from less than $12 at the end of 2015 when Weisler took over to about $19 at Thursday’s close.”

Weisler is an Australian businessman with a bachelor’s degree in computing from Monash University and is married with two children, and has been living in Palo Alto, California.

The HP website reveals Enrique Lores is President of HP’s $20 billion Imaging, Printing & Solutions business. In August 2019, he was elected by the HP board of directors to serve as the company’s next President and CEO, effective November 1, 2019.

Lores is one of the company’s most accomplished, multi-faceted leaders. During his 30-year career, he has held senior leadership positions spanning HP’s Personal Systems, Print, Industrial and Services businesses across the country, region and worldwide roles. Roles have included GM of HP’s commercial PC business, SVP of worldwide customer support and services, and SVP of worldwide sales and solutions, among others.

Since 2015, Lores has reinvented HP’s print business and consistently outperformed the company’s printing peer set with a focus on differentiated innovation, business model evolution and strategic M&A – including the company’s acquisition of Samsung’s printer business in 2017 – while fostering important ecosystem partnerships including Canon and Xerox.

You can watch an excellent interview with Dion Weisler and CNBC’s Jim Cramer in the garage where Hewlett-Packard all began.

HPs Dion Weisler Steps Down: what do you think will be the impact of this on HP Inc in the short, medium and long terms?