HP (Palo Alto, California) has 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 Friday, November 1. Weisler’s decision to step down is due to a family health matter and he’ll be returning home to Australia. He’ll work with Lores to ensure a seamless transition and will remain at the company through to 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.
“Serving as CEO of HP is the highlight of my career, and I want to thank the entire HP team for the support they’ve shown me,” said Weisler. “I’m incredibly proud of what we have achieved and equally confident in where we are heading as a company. Enrique has been a tremendous partner whose leadership has been instrumental in setting this company up for success and delivering on our strategy. He’s 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.”
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. He continues to reinvent HP’s Print business, the company added, with a focus on differentiated innovation, business model transformation and strategic M&A – including HP’s acquisition of Samsung’s printer business in 2017 – while fostering important ecosystem partnerships and demonstrating an industry-leading commitment to sustainablility and the environment.
Over the past year, Lores has been working with the HP Board on a comprehensive global review of the company’s strategy and business operations, with a focus on simplifying its operating model, evolving its business models, and driving significant improvements in its cost structure – while making the company more digitally enabled and customer centric. Lores will provide more details on this work and his vision for the company on October 3 during HP’s investor update. “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,” He added. “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’ll set our sights for the future.”