HP Shuffles Executive Deck
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HP (NYSE:HPQ) is making major organizational changes this week, as the IT giant aims to realign its business for market opportunities.
Among those affected is HP executive Ann Livermore, who had been touted in the past as a possible CEO replacement. Livermore has been with HP for 29 years, and most recently has been running the HP Enterprise business.
HP is now moving Livermore to the HP board of directors as she transitions away from running the HP Enterprise business. The plan is for Livermore to remain as the interim leader for HP Enterprise Services, until a replacement for her is found.
While Livermore will remain with HP, other top execs aren't as lucky.
Pete Bocian, executive vice president and chief administrative officer as well as Randy Mott, executive vice president and chief information officer are both leaving HP immediately. HP is now looking for a replacement for Mott to fill the CIO role. The chief administration officer role is being eliminated all together in an effort to streamline operations.
The organizational structure is also being flattened with top execs now reporting directly to CEO Leo Apotheker. Among those that are affected by the new reporting changes are Dave Donatelli, executive vice president, Enterprise Servers, Storage, Networking and Technology Services, Bill Veghte, executive vice president, Software and Jan Zadak, executive vice president, Global Sales.
"These businesses play a vital role in our continued growth and success, and as such, Dave, Bill and Jan will report directly to me and help drive the overall direction for HP," said HP CEO Leo Apotheker in a statement. "In our ongoing effort to accelerate our progress in executing our strategy, we will continue to make the necessary changes that streamline our operations, drive focus and agility, and position us for success."
The executive changes announced this week aren't the only organizational changes at HP this month. One executive that left of his own accord earlier this month is HP Networking chief Marius Haas.
The organizational changes follow HP's second quarter results which showed weakness in the company's consumer division. HP reported second quarter Net Revenues of $31.6 billion, up by 3 percent on a year-over-year basis.