Hewlett-Packard shortly known as HP was the leading PC OEM in the world few quarters back. It recently lost its position to Chinese Windows OEM Lenovo. Today, WSJ reported that Hewlett-Packard plans to break itself into two companies, one of the companies will be having personal-computer and printer businesses and the other would be corporate hardware and services operations. HP will be soon making the official announcement in the coming days.
Meg Whitman will be chairman of the PC and printer business and CEO of the separate enterprise focused company and Dion Weisler, head HP’s printing and PC group, will become CEO of consumer company and Patricia Russo, an HP director, will be chairman.
The transaction will be structured as a distribution of shares to current HP shareholders.