Billionaire Meg Whitman Stepping Down as HP Enterprise CEO

Billionaire Meg Whitman Stepping Down as HP Enterprise CEO

The result was that shares in the maker of servers, networking and data storage hardware fell 7% to 13.09 in after-hours trading on the stock market today. With the drop, HPE has fallen to its lowest intraday level in well over a year.

Meg Whitman, CEO of Hewlett Packard Enterprise (HPE), announced last night that she is leaving the company as of February 1, 2018. On Tuesday, HPE reported $7.8 billion in net revenue for the fourth quarter, and $37.4 billion in net revenue for the 2017 fiscal year, beating analyst expectations. HPE's shares have risen five percent this year.

With this, Whitman ends her six-year tenure at the firm, which has seen quite an upheaval under her leadership.

Hewlett Packard Enterprise declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases.

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Whitman ran unsuccessfully for California governor in 2010, and she has served on the presidential campaigns of Republican former Massachusetts Governor Mitt Romney and New Jersey Governor Chris Christie. The stock was sold at an average price of $13.67, for a total value of $3,404,144.41. The disclosure for this sale can be found here. Hewlett Packard Enterprise's dividend payout ratio is 144.44%. The Stock now has a Weekly Volatility of 2.30% and Monthly Volatility of 1.99%. Insiders own 0.87% of the company's stock. If you are reading this article on another publication, it was illegally copied and reposted in violation of worldwide copyright and trademark legislation.

"She first tried to hold HP's disparate businesses together, before spinning off the company's printer and PC division into the new HP Inc. and shedding its software and services businesses through combinations with other companies".

Bloomberg Technology's Gerrit De Vynck and Natalie Wong observe that "since 2009, 19 female CEOs of Standard & Poor's 500 companies have stepped down". The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).

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