- Push-out Score suggests push-out forces
- After about six years and a half in the position
- Accolades for Whitman
- Antonio Neri taking over
- Whitman spoke at length and said 72 words
(exechange) — Palo Alto, California, November 21, 2017 — Meg Whitman, chief executive of Hewlett Packard Enterprise, leaves. As announced by Hewlett Packard Enterprise Company in a news release and in a regulatory filing published on Tuesday, November 21, 2017, Margaret C. (Meg) Whitman leaves the post as Chief Executive Officer at the information technology company after about six years and a half in the position, effective February 01, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 8.8 years, according to data compiled by exechange.
Whitman’s duties are taken over by Antonio Neri, currently President at Hewlett Packard Enterprise Company.
“Now is the right time”
Whitman’s departure from the post of CEO is explained as follows. Meg Whitman said: “Now is the right time for Antonio and a new generation of leaders to take the reins of HPE.”
Precise information about the future plans of Whitman was not immediately available.
According to Bloomberg, Whitman noted that she doesn’t intend to re-emerge at one of HPE’s rivals.
“There is no chance I’m going to a competitor — no chance,” Whitman said according to Bloomberg. “I love this company and I would never go to a competitor.”
Share price stagnation
The change follows a stagnation in the share price of Hewlett Packard Enterprise Company since December 2016.
Chaired by Patricia F. Russo
Hewlett Packard Enterprise Company is chaired by Patricia F. Russo.
Russo serves as the Chairman of the Company’s board of directors. She previously served as Chief Executive Officer of Alcatel-Lucent.
In the position of CEO since 2011
Margaret C. Whitman has been the Chief Executive Officer and President at Hewlett Packard Enterprise Company since October 2014.
She served as the Chief Executive Officer and President of HP Inc. from September 22, 2011 to November 1, 2015.
From 2011 through 2015, Whitman served as President and Chief Executive Officer for Hewlett-Packard Company, leading the company’s turnaround and subsequent separation into two Fortune 100 companies – Hewlett Packard Enterprise and HP Inc.
Prior to joining HP, Whitman was the Republican Party’s nominee for the 2010 gubernatorial race in California.
From 1998 to 2008, Whitman served as President and Chief Executive Officer of eBay Inc. where she oversaw its growth from 30 employees and $4 million in annual revenue to more than 15,000 employees and $8 billion in annual revenue.
She has also held executive-level positions at Procter and Gamble Company, Hasbro Inc., FTD, Inc., The Stride Rite Corporation, The Walt Disney Company and Bain & Company.
She currently serves as a director for The Procter & Gamble Company and Teach for America.
Whitman holds a bachelor’s degree from Princeton University and an MBA from Harvard University.
Meg Whitman will remain on the HPE Board of Directors.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Meg Whitman’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 48.2017 ($).