HPE CEO Meg Whitman stepping down

Container ship

Hewlett Packard Enterprise (HPE) offered a turbulent earnings report Tuesday as it announced that Chief Executive Meg Whitman will step down on February 1 and forecast current quarter earnings that would fall below views amid a company restructuring.

This announcement surprised even the Wall Street and the HPE share had o witness a fall of 6% in its worth. She endorsed Democrat Hillary Clinton in the 2016 USA presidential election.

HPE CEO Meg Whitman has announced that she will step down from the end of January. While we believe it will be hard to replace Meg Whitman's vast business experience, the assignment of Neri, who brings a solid background in technology, may signify a further focus on fostering innovation and product development for the much slimmer firm competing in an IT infrastructure market facing secular headwinds. She then become CEO of HPE. "I think it is absolutely the right time for Antonio and a new generation of leaders to take the reins", reported Reuters.

When she took over, "Hewlett-Packard "was an enormous conglomerate, ' Whitman said, that confused customers because it sold too many disparate products", Fortune " s Jonathan Vanian reports. Whitman shot down the reports by tweeting: "I am fully committed to HPE and plan to remain the company's CEO".

Before HP, Whitman served as chief executive of eBay Inc., a company she steered from a fledgling startup with just 30 employees into a household name beginning in 1998 until 2008. She ran for governor of California in 2010. "Other than that, Ms. Whitman said, 'I don't know, '" Lohr reports.

More news: Volvo signs deal with Uber for self-driving vehicle supply

"Even after its massive split from HP Inc., HPE continued to shed off pieces of its business it deemed non-essential", he continues. She ruled out working for any of the company's competitors like Cisco, IBM or Microsoft.

"With strong top line revenue growth, earnings above our previous outlook and our second consecutive quarter of sequential margin improvement, our fourth quarter results are a reflection of the progress we have made over the past two years to transform HPE into a nimble, focused and innovative organization", Whitman said in a statement. HPE's shares have risen five percent this year.

Hewlett Packard Enterprise Company is a provider of technology solutions. In only three of those cases was she replaced by another woman.

"We've got strategy that's crystal clear and focused", Whitman said on a conference call. "The next CEO of the company needs to be a deeper technologist, and that's exactly what Antonio is".

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