HP Announces CEO Succession

HP Inc. announced that its board of directors has unanimously appointed Enrique Lores, currently president of HP’s Imaging, Printing and Solutions business, to succeed Dion Weisler as the company’s president and CEO, effective Nov. 1.

Weisler’s decision to step down at this time is due to a family health matter and he will be returning home to Australia. He will remain at the company through January 2020. Following this, Weisler will continue to serve on HP’s board of directors until the next annual meeting of stockholders.

Weisler joined HP in 2012 and has served as president and CEO since 2015.

HP has added approximately $7 billion in annual revenue, generated over $13 billion in free cash flow, and has met or exceeded its non-GAAP EPS guidance for 15 consecutive quarters since separation.

“Serving as CEO of HP is the highlight of my career, and I want to thank the entire HP team for the support they have shown me. I’m incredibly proud of what we have achieved and equally confident in where we are heading as a company,” said Weisler. “Enrique has been a tremendous partner whose leadership has been instrumental in setting this company up for success and delivering on our strategy. He is one of the smartest people I know, and I have great confidence in his ability to lead and inspire the next chapter of HP’s transformation and growth.”

“Enrique is an inspiring and proven business leader and is the right person to lead HP into the future,” said Chip Bergh, chair of HP’s board of directors. “Since the time of separation, the board has had an ongoing and diligent succession planning process that included vetting and benchmarking internal and external candidates. Through this rigorous process, Enrique emerged as the board’s unanimous choice as successor and we are confident he will build on the company’s progress and capitalize on new opportunities.”

Lores began his HP career 30 years ago as an engineering intern and has risen to increasingly prominent leadership positions across the company’s Print, Personal Systems and Services businesses.

Since 2015, Lores has served as President of HP’s Imaging, Printing and Solutions business, which had revenues of over $20 billion for fiscal 2018 and has consistently outperformed the company’s printing peer set.

“Thirty years ago, I was drawn to HP by the company’s unique ability to bring out the best of humanity through the power of technology,” said Lores. “The opportunities ahead are vast and the need for us to keep reinventing is more important than ever. I continue to be inspired by our customers, partners and employees, who are turning bold ideas into meaningful innovations. This is where we will set our sights for the future.”