B2B Payments

Hewlett Packard Enterprise CEO To Exit Next Year

The chief executive of Hewlett Packard Enterprise Meg Whitman is stepping down from her position with plans to exit in February, according to recent reports in The New York Times.

Whitman has held the position for six years and led Hewlett-Packard’s decision to split into two separate entities in 2015.

Her first role in the technology market was at eBay, where she came on board in 1998 and helped expand the company into the eRetailer it is today.

Whitman described her time as CEO of Hewlett Packard Enterprise as a “privilege,” and said she is “really proud” of her success in splitting the company into two separate, more efficient units. She told the publication she isn’t exactly sure what her future plans entail.

“I’ve been working straight for 35 years,” she said. “I’m going to enjoy some downtime.”

According to Bernstein Research analyst A.M. Saccogahi, Whitman, who joined HP in 2011, was handed a challenge when the company decided to split and create Hewlett Packard Enterprise.

“At HP, she was handed a tough hand in a legacy business – the opposite of eBay,” the analyst said. “She was a complete realist about the business, and generally did a good job.”

The executive aimed to cut costs at Hewlett Packard Enterprise as it pursued growth via corporate customers. Reports said the company slashed payroll from 210,000 to about 60,000 workers. Since the entity was established, share prices have remained about the same, though the firm says shareholder return is at 89 percent.

Whitman was also in the running to succeed Uber chief executive Travis Kalanick earlier this year.

Just weeks after HP announced plans of the split in 2015, another enterprise executive, Bill Veghte, announced his own resignation from the company. He served as head of HP’s Enterprise Group before Hewlett Packard Enterprise was officially formed.

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