Hewlett-Packard to Split into Two Companies – HP, Inc. and HP Enterprise; Board Changes Announced
Hewlett-Packard plans to break in two, separating its printing and personal systems businesses from its corporate hardware and services operations. The company will cut another 5,000 jobs in the process of carrying out the breakup. Meg Whitman, 57, is slated to be chairman of the PC and printer business, to be known as HP Inc., and CEO of the other company, to be called Hewlett-Packard Enterprise.
Whitman is a former part-time strategic advisor to Kleiner, Perkins, Caulfield & Byers; former President and CEO of eBay; and held executive-level positions at Hasbro, FTD, The Stride Rite Corporation, Walt Disney, and Bain. Whitman also serves as a director of Procter & Gamble.
Current lead independent director Patricia Russo, 62, will be chairman of Hewlett-Packard Enterprise. Russo is former CEO of Alcatel-Lucent. Prior to the merger of Alcatel and Lucent in 2006, she served as Chairman and CEO of Lucent Technologies and before that, as the company’s President and CEO. Russo is currently a director of Alcoa, General Motors, KKR Management LLC and Merck & Co.
Ulta Beauty’s New Board Member is Cambium’s President
Ulta Salon, Cosmetics & Fragrance, a beauty retailer, named Michelle Collins, 53, President of business and advisory firm Cambium, to its Board of Directors. Previously, Collins was Managing Director and co-founder of Svoboda Capital Partners, a private equity firm. She began her career in 1986 at William Blair & Company, an investment banking firm, where she held the position of Principal, Corporate Finance, focusing on specialty retail, catalog and distribution businesses in corporate finance.
Former Microsoft Corporate VP Joins Hasbro’s Board
Toy and board game company Hasbro appointed Linda Zecher as an independent director to its Board. Zecher is currently President and CEO and Director at global education leader, Houghton Mifflin Harcourt. Prior to HMH, Zecher held a number of positions of increasing responsibility at Microsoft, ultimately culminating in her appointment as Corporate VP, Worldwide Public Sector. Prior to Microsoft, she served as CEO of Evolve Corporation, a software provider. Prior to that, she was SVP of Application Suites at Oracle. She began her career as a geophysicist at the semiconductor firm, Texas Instrument.
Rogers Appoints Director with Extensive Background in Global Technology Companies and Finance Leadership
Specialty materials company Rogers Corporation appointed Helene Simonet, 61, to its Board. Since 2002, Simonet has served as the EVP and CFO of Coherent, a leading global supplier of photonics technology products and solutions for a wide range of commercial and scientific research applications. Prior to joining Coherent in 1999, Simonet had previously spent more than twenty years in senior finance positions at Raychem Corporation.
Education Company Appoints MyBuys’ CEO as Director
Capella Education Company, a provider of online post-secondary education through its wholly owned subsidiary Capella University, appointed Rita Brogley, CEO of MyBuys, to its board of directors. Brogley is CEO of MyBuys, a marketing technology company that is a leader in consumer analytics and personalization solutions for online commerce. Over the last 15 years, Brogley has been CEO of three different technology companies and brings deep experience in marketing, strategy and business development, along with extensive board experience.
Date Range: September 23rd - October 27th