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Meg Whitman Leaving HPE After Disappointing Earnings Report

It's the end of the road for Hewlett Packard Enterprise CEO Meg Whitman. In a surprise announcement on Nov. 21, HPE announced that effective Feb. 1, 2018, Whitman will no longer be CEO. She will be replaced by Antoni Neri.

Whitman became CEO of HP in Sept. 2011, helping to lead six years of transition, including the company splitting into two operating entities: HP Inc and Hewlett Packard Enterprise (HPE).

"I'm incredibly proud of all we've accomplished since I joined HP in 2011," Whitman wrote in a statement. "Now is the right time for Antonio and a new generation of leaders to take the reins of HPE. I have tremendous confidence they will continue to build a great company that will thrive well into the future."

Neri has been with HP since 1995 and has held a variety of roles within the company, including most recently, president of HPE.

"The world of technology is changing fast, and we've architected HPE to take advantage of where we see the markets heading," Neri stated. "HPE is in a tremendous position to win, and we remain focused on executing our strategy, driving our innovation agenda and delivering the next wave of shareholder value."

HPE's Full Year Fiscal 2017 Financial Results Released

The executive change at the top of HPE comes on the same day the company announced its fourth quarter and full year fiscal 2017 financial results. For the quarter, HPE reported revenue of $7.8 billion, for a 5 percent year-over-year gain.

Full year revenue was reported at $37.4 billion, down 4.7 percent year over year. Net earnings for the full year were reported at $400 million, down by 86.5 percent year over year.

Of note, HPE's server revenue was down 5 percent in the fourth quarter. In contrast, networking revenue, which includes HPE's Aruba business unit, was up by 21 percent.

Sean Michael Kerner is a senior editor at ServerWatch and InternetNews.com. Follow him on Twitter @TechJournalist.

This article was originally published on November 21, 2017
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