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Hewlett Packard Enterprise's Whitman To Step Down; Forecast Light

24 November 2017

State of Tennessee Treasury Department trimmed its position in Hewlett Packard Enterprise Company (NYSE:HPE) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). Questions are also being raised on if she plans to pursue a career in politics, considering she has, in the past, been a part of the presidential campaigns of Mitt Romney and Chris Christie.

After the announcement of Whiteman's stepping down fom the post, there were reports of her joining Uber which she denied through her twitter post saying she has not stepped down to join Uber or any other company and she is very much staying in HPE as they have a lot to do in the company. HPE president Antonio Neri, 50, a more technically oriented executive at the Silicon Valley pioneer, will succeed her. Currently, Hewlett Packard Enterprise is a Zacks Rank #3 (Hold), and is down over 7% to $13 per share in after-hours trading shortly after its earnings report was released. "A CEO with tech background can help HPE to improve its innovative edge", Kundozerov said. "Now is the right time for Antonio and a new generation of leaders to take the reins of HPE".

Whitman did not tell employees why she chose to leave the CEO job or where she plans to go next. She ruled out working for any of the company's competitors like Cisco, IBM or Microsoft.

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HPE executes against a three-tiered strategy: hybrid IT with a focus on data center, software-defined infrastructure, systems software and private cloud; edge computing for campus and branch networking and the industrial IoT; and advisory, professional and operational services. So let me make this as clear as I can.

Whitman ran for Governor of California but was beaten by Jerry Brown. "I'm going to enjoy some downtime'".

"I'm incredibly proud of all we've accomplished since I joined HP in 2011", Whitman said in a statement.

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That problem was solved in 2015, when Whitman split the company in two.

In an analyst call, Whitman said that HPE is "far more nimble, far more agile, and frankly a much better company that it was six years ago".

Whitman will continue to serve on HPE's board. Victory Capital Management Inc. now owns 12,166,742 shares of the technology company's stock worth $178,973,000 after purchasing an additional 1,900,630 shares in the last quarter.

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Hewlett Packard Enterprise's Whitman To Step Down; Forecast Light