In 1939, Bill Hewlett and Dave Packard tossed a coin in a Palo Alto garage.
Deciding whether the company they founded would be called Hewlett-Packard or Packard-Hewlett, 77 years on from the creation of one of the world’s leading technology companies - HP has now, in 2015, officially split into two.
Establishing two new publicly listed Fortune 50 companies in the process, here’s a quick rundown of HP Inc…
Drawing on its experience as a market leader in the personal systems and printing markets, HP Inc aims to carry on where it left off with promises of new technologies on the horizon.
As pointed out by then HP CEO Meg Whitman - now Chairman of the HP Inc. Board, the new company’s strong profitability and free cash flow will enable investments in growth markets such as 3-D printing and new computing experiences.
“At the same time, HP Inc. will continue to execute against a well-defined and established strategic plan, ensuring continuity for customers and consistent value to shareholders,” added Whitman, when formally announcing the split last year.”
As the new President and CEO of HP Inc, Dion Weisler is tasked with delivering new innovations with a strong personal systems and printing focus, while building relationships with key customers and channel partners.
“This is a defining moment in our industry as customers are looking for innovation to enable workforces that are more mobile, connected and productive while at the same time allowing a seamless experience across work and play,” Weisler added.
“As the market leader in printing and personal systems, an independent HP Inc. will be extremely well positioned to deliver that innovation across our traditional markets as well as extend our leadership into new markets like 3-D printing and new computing experiences – inventing technology that empowers people to create, interact and inspire like never before.”
For Weisler, HP Inc. is “extremely well-positioned” to leverage its portfolio and innovation pipeline across areas such as multi-function printing, Ink in the office, notebooks, mobile workstations, tablets and phablets, as well as 3-D printing and new computing experiences.
Board of Directors
Whitman will chair the board of directors for HP Inc having served as president and chief executive officer of HP since September 2011, in addition to serving as director of HP since January 2011 and Chairman of the board of HP since July 2014.
“The post-separation Boards for both Hewlett Packard Enterprise and HP Inc. comprise leaders with some of the most diverse backgrounds and professional experiences I’ve seen in my career,” Whitman added.
“I’m confident that these boards will successfully serve the needs of both companies and their shareholders at a defining moment in time.”
In addition to Whitman, the HP Inc. board of directors includes:
- Shumeet Banerji, Founder, Condorcet, LP; former Chief Executive Officer, Booz & Company, Inc.
- Carl Bass, President, Chief Executive Officer and Director, Autodesk, Inc.
- Robert R. Bennett, Managing Director, Hilltop Investments, LLC; former President and Chief Executive Officer, Liberty Media Corporation
- Charles V. “Chip” Bergh, President and Chief Executive Officer, Levi Strauss & Co.
- Stacy Brown-Philpot, Chief Operating Officer, TaskRabbit, Inc.
- Stephanie A. Burns, former Chairman and Chief Executive Officer, Dow Corning Corporation
- Mary Anne Citrino, Senior Advisor, Blackstone
- Rajiv Gupta, former Chairman and Chief Executive Officer, Rohm and Haas Company
- Stacey Mobley, former Senior Vice President, Chief Administrative Officer and General Counsel, DuPont
- Subra Suresh, President, Carnegie Mellon University
- Dion Weisler, Executive Vice President, HP
At present, Banerji, Bennett, Gupta, and Whitman currently serve on the board of directors of HP.
“I’m very excited to work with the new Board of HP Inc.,” Weisler added.
“HP Inc. has tremendous opportunities and having a skilled board with a global perspective is critical to me and my management team, especially as we embark into new markets like 3-D printing and immersive computing.
“The chance to take in the skills of new board members is a great benefit of the separation.”