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Hewlett-Packard Changes Leadership, Reports 8% Revenue Decrease

|Includes: HP Inc. (HPQ)

Originally published at

Filing in Focus: Hewlett-Packard 8-K, August 21, 2013

Hewlett-Packard Company (NYSE:HPQ) announced its financial results for its third quarter of fiscal year 2013 while also announcing leadership changes as it continues to make changes in an effort to improve the company. Several leadership changes were made including re-assigning Dave Donatelli, an executive that many analysts have predicted could become CEO of a technology company, from his current role as the head of HP's Enterprise Group to a position focused on identifying early-stage technologies. Marketing and communications will become one unit led by Chief Communications Officer Henry Gomez. Bill Veghte, HP Chief Operating Officer, will become executive vice president and general manager of the Enterprise Group. The declining market for personal computers negatively impacted HP's revenue by 8%, dropping revenue from $29.67B last year to $27.23B. Earnings guidance for the year was increased as CEO Meg Whitman reiterated that the company is turning around and making significant improvements in its balance sheet.

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