HP Inc.’s chief executive to step down in November

Business

SAN FRANCISCO (AP) — HP Inc. is losing the chief executive who has been leading the personal computer maker since it broke off as a separate company four years ago.

The Palo Alto, California, company says CEO Dion Weisler will step down from the job Nov. 1 because of an undisclosed family issue. He will be succeeded by Enrique Lores, who currently oversees an HP division that includes its highly profitable business of selling ink for the company’s printers.

Weisler joined HP in 2012 and became CEO in 2015 when the company split is PC and printer operations from its businesses specializing in business software. That part is now known as Hewlett Packard Enterprise and was run by former California gubernatorial candidate Meg Whitman until her departure from that post last year.

HP’s shares fell 6% to $17.72 in extended trading Thursday after the news of Weisler’s impending departure came out. The reaction, however, may have been driven by the release of HP’s financial results for its fiscal third quarter and outlook for the current three-month period ending in October.

The company’s earnings for the past quarter exceeded analyst estimates that steer investor expectations, but HP’s guidance might lag analyst projections for the current quarter.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recent Videos

Burk city commissioners vote down the ban of flavored e-cigarettes

Thumbnail for the video titled "Burk city commissioners vote down the ban of flavored e-cigarettes"

What The Tech: new Facebook design

Thumbnail for the video titled "What The Tech: new Facebook design"

Vacant home of James Staley vandalized

Thumbnail for the video titled "Vacant home of James Staley vandalized"

Property flipping brothers to revitalize two properties in Graham

Thumbnail for the video titled "Property flipping brothers to revitalize two properties in Graham"

Flu season is here, public health urges residents to get vaccinated

Thumbnail for the video titled "Flu season is here, public health urges residents to get vaccinated"

Pastor raising money from church roof

Thumbnail for the video titled "Pastor raising money from church roof"

Donny Davis released on bond

Thumbnail for the video titled "Donny Davis released on bond"

Man assaults wife

Thumbnail for the video titled "Man assaults wife"

Olney man arrested for alleged assault at motel

Thumbnail for the video titled "Olney man arrested for alleged assault at motel"

Wichita Co. Deputy celebrates 50 years in law enforcement

Thumbnail for the video titled "Wichita Co. Deputy celebrates 50 years in law enforcement"

David Frizzel performs at Electra's grand theater

Thumbnail for the video titled "David Frizzel performs at Electra's grand theater"

Early morning shooting in WF

Thumbnail for the video titled "Early morning shooting in WF"