- Push-out Score determined
- After about four years in the position
- Accolades, praise and thanks for Weisler
- Enrique Lores taking over
- Weisler said 98 words
(exechange) — Palo Alto, California, August 22, 2019 — Dion Weisler, chief executive of HP, leaves. As announced by HP Inc. in a news release and in a regulatory filing published on Thursday, August 22, 2019, Dion J. Weisler leaves his post as Chief Executive Officer at the software company after about four years in the role, effective November 1, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.2 years, according to data compiled by exechange.
Dion Weisler’s duties as CEO will be taken over by Enrique J. Lores, currently President of the Imaging, Printing and Solutions business of HP Inc.
“Due to a family health matter”
Dion Weisler’s departure from the CEO post is explained as follows. HP said: “Weisler’s decision to step down at this time is due to a family health matter and he will be returning home to Australia.”
Precise information regarding Dion Weisler’s future plans was not immediately available.
HP said: “HP Inc. (NYSE: HPQ) today announced that its board of directors has unanimously appointed Enrique Lores, currently President of HP’s Imaging, Printing and Solutions business, to succeed Dion Weisler as the company’s President and CEO, effective November 1.”
HP further said: “Dion Weisler, the Company’s President and Chief Executive Officer, will step down from his positions as President and Chief Executive Officer, effective November 1, 2019.”
Share price decline
The announcement follows a decline in HP Inc.’s share price of 29% since October 2018.
Chaired by Chip Bergh
HP Inc. is chaired by Chip Bergh.
Chip Bergh was named Board Chair in July 2017. He previously served as Lead Independent Director of the Board since March 2017 and joined the Board in 2015.
In the position of CEO since 2015
Dion Weisler became CEO of the Company in November 2015.
He will work with Lores to ensure a seamless transition and will remain at the company through January 2020.
Following this, Weisler will continue to serve on HP’s board of directors until the next annual meeting of stockholders.
Dion Weisler became President and CEO of HP Inc. in 2015 after leading the company through one of the largest and most complex separations in corporate history.
With more than 25 years of experience in the IT industry, and having lived in 8 different countries, Dion Weisler has held key executive positions across multiple geographies in the IT and telecommunications sectors.
He began his HP career as Senior Vice President and Managing Director, Printing and Personal Systems, Asia Pacific and Japan.
In that role, he was responsible for all aspects of the business in the region.
Before joining HP, Dion Weisler was the Vice President and Chief Operating Officer of Lenovo’s Product and Mobile Internet Digital Home groups, and led the Global Transaction Model worldwide.
Before that he was the General Manager of Korea, ASEAN and ANZ, where he was responsible for Lenovo’s entire business in these markets.
Earlier in his career, he was General Manager at Telstra Corporation, Australia’s leading telecommunications company, where he was responsible for Telstra’s Conferencing and Collaboration products and services.
He also had a successful 11-year career at Acer, where he became Managing Director of Acer UK after establishing and operating the company’s business in Central and Eastern Europe.
He holds a Bachelor of Applied Science – Computing degree from Monash University, Australia.
Dion Weisler is based in Palo Alto, California.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to HP and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 34.2019 ($).