Hewlett-Packard Co. on Wednesday named current and former
executives at companies like General Motors Co. and Comcast Corp.
to sit on the boards of the two companies it will split into in
November.
At Hewlett Packard Enterprise Co., which will be led by current
HP Chief Executive Meg Whitman, board members are expected to
include Marc Andreessen, co-founder of AH Capital Management LLC;
Dan Ammann, president of General Motors Co.; and Michael J.
Angelakis, a Comcast Corp. executive.
Some of the board members already sit on Hewlett-Packard's
current board.
Hewlett Packard Enterprise, which will concentrate on growth as
it tries to stay relevant in a corporate computing market that is
being transformed by the cloud, will be chaired by Pat Russo. Ms.
Russo, formerly CEO of Alcatel-Lucent, joined the HP board in 2011
and serves as lead independent director.
Ms. Whitman, meanwhile, will chair the board of the other
company that will come out of the split, HP Inc. That business will
focus on returning cash to shareholders while expanding into new
markets such as 3-D printing and will be run by Dion Weisler, who
currently heads HP's PC and printer business.
Other members of the HP Inc. board are expected to include
Shumeet Banerji, the former CEO of Booz & Company Inc.; Carl
Bass, CEO of Autodesk Inc.; and Robert Bennett, the former CEO of
Liberty Media Corp.
Hewlett-Packard filed paperwork with the Securities and Exchange
Commission for its breakup in July. The decision to divide the
company in two came from the company's struggles through much of
the past decade with declining revenue, corporate scandals and
management changes. H-P stood on the sidelines as companies such as
Amazon.com Inc. and Apple Inc. created compelling cloud computing,
smartphone and tablet businesses.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Access Investor Kit for "Apple, Inc."
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US0378331005
Subscribe to WSJ: http://online.wsj.com?mod=djnwires