""Disciplined execution is delivering consistent progress in a dynamic environment," said HP chair Chip Bergh in a statement that could have doubled as a year-end earnings memo. "We believe we have the right strategy in place, and Bruce is the right leader to move HP forward while we identify our next CEO.""
"Broussard struck the expected CEO-in-waiting tone, saying HP's "relentless commitment to empowering people and businesses" positions the company well as it advances its "One HP" strategy amid complex macro and hardware markets."
"Lores, an HP veteran who started as an intern and ascended to the corner office in late 2019, oversaw the company's push to reframe itself as an AI-focused workplace tech company while defending its core PC and print franchises - including its bid to make printing a subscription."
Enrique Lores will leave HP to take the chief executive role at PayPal effective March 1. HP's board immediately appointed Bruce Broussard, a board member since 2021 and former longtime Humana CEO, as interim CEO while engaging a global search firm for a permanent successor. HP chair Chip Bergh emphasized disciplined execution and affirmed the company's strategy during the transition. Lores rose from intern to CEO in late 2019 and guided HP toward AI-focused workplace technology while defending PC and print franchises, including efforts to shift printing toward subscriptions. HP flagged a Q4 restructuring that could cut 4,000–6,000 jobs by 2028, and revenue when Lores became CEO was about $58.8 billion.
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