HP's Dion Weisler steps down as CEO

HP veteran and board member Enrique Lores announced as Weisler's replacement

HP CEO Dion Weisler has announced he will be stepping down from the leadership role, citing family reasons.

Board member Enrique Lores has been appointed as his replacement and will take charge of the firm on 1 November.

Weisler described Lores as a "tremendous partner", adding that he had great confidence in his ability to lead and inspire.

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Although he will be returning home to Australia to be with his family, Weisler will continue to serve on HP's board of directors until its next annual meeting of stockholders, likely to be sometime in April 2020.

"On behalf of the board, we respect Dion's decision to support the needs of his family," said Chip Bergh, chair of HP's board of directors. "We thank him for leading HP post-separation, building a strong team and restoring the company to drive strong shareholder value creation over the last four years."

Weisler, who joined HP in 2012, was made both the president and CEO in 2015, which he said was the "highlight" of his career.

"I'm incredibly proud of what we have achieved and equally confident in where we are heading as a company," said Weisler.

"Enrique has been a tremendous partner whose leadership has been instrumental in setting this company up for success and delivering on our strategy. He is one of the smartest people I know, and I have great confidence in his ability to lead and inspire the next chapter of HP's transformation and growth."

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The change is quite a career milestone for Lores, who started at HP as an engineering intern 30-years-ago. In that time he has worked in the company's print, personal systems and services business before serving as president of its imaging, printing and solutions business in 2015.

"Thirty years ago, I was drawn to HP by the company's unique ability to bring out the best of humanity through the power of technology," said Lores. "The opportunities ahead are vast and the need for us to keep reinventing is more important than ever. I continue to be inspired by our customers, partners and employees, who are turning bold ideas into meaningful innovations. This is where we will set our sights for the future."

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