HP has introduced that board member Bruce Broussard will step into the position of Interim CEO following Enrique Lores’ departure from the corporate.
Lores, who spent 36 years with the expertise large, together with seven years as CEO, is leaving to take over as CEO of PayPal.
“On behalf of everybody at HP, I need to thank Enrique for his contributions over the past 36 years and management as CEO for the final seven years. Enrique has guided HP via its latest transformation and helped place the corporate to steer the Way forward for Work. We want him nicely in his subsequent chapter,” mentioned Chip Bergh, Chairman of the Board.
HP’s board has launched a proper search course of for a everlasting CEO, participating a worldwide government search agency to establish candidates. Bergh emphasised that the corporate’s strategic initiatives stay on observe, with Broussard positioned to keep up momentum throughout the transition interval.
Seasoned Healthcare Govt Takes the Helm
Bruce Broussard’s credentials prolong nicely past his three years on HP’s board. His greater than 30 years of management expertise span a number of public firms, together with Humana, one among America’s largest healthcare organizations.
Earlier than becoming a member of Humana, Broussard spent 11 years at US Oncology, the place he held a number of management positions, together with Chief Monetary Officer, Chief Govt Officer, and Chairman of the Board. Following US Oncology’s sale to McKesson, he grew to become President of the Specialty Pharmacy Division, additional increasing his expertise managing large-scale operations.
His familiarity with HP’s enterprise mannequin and strategic priorities, developed throughout his tenure as a board member since 2021, positions him nicely to tackle the interim position.
“HP is shaping the subsequent period of expertise with a relentless dedication to empowering individuals and companies to thrive, and I’m honored to function Interim CEO,” Broussard mentioned.
His focus can be on what the corporate calls its “One HP platform,” designed to ship built-in expertise options that drive buyer development.
Management Change Created by New Opening
The manager transition arrives simply days after HP’s earnings name. Nonetheless, it was not HP’s outcomes that seemingly prompted the transfer however these of PayPal.
PayPal not too long ago issued a disappointing revenue forecast for 2026 and reported fourth-quarter earnings that fell in need of Wall Avenue expectations.
PayPal’s board reportedly mentioned the choice to take away CEO Alex Chriss was because of the “tempo of change” not being quick sufficient.
Throughout Lores’ seven-year tenure as CEO, HP navigated vital market shifts whereas sustaining its management positions in each printing and private computing. This observe file might clarify why he was chosen for the PayPal high job, because the once-ubiquitous on-line cost service now faces robust competitors from Google Pay and Apple Pay.
HP Positions for Future Amid Management Transition
As HP strikes ahead with its CEO search, the corporate seems dedicated to sustaining the strategic course established below Lores’ management.
Chairman Bergh’s confidence within the present technique means that whoever assumes the everlasting CEO position can be anticipated to execute established priorities somewhat than pursue a serious strategic shift.
The corporate has scheduled its fiscal first-quarter 2026 earnings launch for late February.
