Sara Mota Maguey
The division of the company is a reversal in the original strategy the CEO, Meg Whitman. The operation will be announced today.
The American Hewlett-Packard will split into two companies, the second edition of ‘Wall Street Journal’. If separation move from one side of the company is the business area reserved for personal computers and printers, other hardware devices are for business and operations of financial services and software.
According to the newspaper the measure is part of the restructuring plan of the company, which aims to halt the decline in sales. Meg Whitman, HP’s current president, has been working on a restructuring plan the company several years ago to halt the decline in financial results. Although the shares are rising since the beginning of last year, still well below the values reached by the 1990s technology boom in full.
The separation is expected to become effective in 2015 and is a turnaround in the path defined by Meg Whitman. When the current president took office in 2011, control of the multinational opted to reverse the decision of his predecessor, Leo Apotheker, which was intended to separate the PC unit. At the time, the executive argued that business was critical in sustaining long-term relationships with customers.
According to sources close to the process, the operation will be announced by the North American company today. The separation will be done through a distribution of shares to shareholders – an operation without tax implications -., Over the next year
With the break, HP will result in two listed companies in autonomously purse with annual revenues exceeding 50 billion United States dollars (EUR 39 950 million). According to sources contacted by the WSJ, Meg Whitman, HP’s current president, will be non-executive chairman of the business of computers and printers and leader of the second company, to be called Hewlett-Packard Enterprise. The company says it does not comment on rumors. This week, the manufacturer will do an event with analysts.
According to Ralph Wuthworth, investor HP, the initiative may be a “brilliant move at the right time of upheaval.”
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