×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Hewlett | Packard | Personnel

HP Taps Software Executive as Chief Operating Officer

Wednesday, 30 May 2012 06:27 PM EDT

Hewlett-Packard Co. has promoted Bill Veghte to chief operating officer, the latest expansion of his responsibilities since the slumping technology company hired Meg Whitman as its CEO eight months ago.

The appointment announced Wednesday makes it clear that Whitman intends to lean heavily on Veghte as she tries to boost HP's earnings and sagging stock price. Management missteps have hobbled the Silicon Valley pioneer as its rivals raced ahead with more innovative products and services.

Both Veghte and Whitman may have to grapple with deteriorating employee morale as they try to turn around HP. The company last week disclosed it will eliminate 27,000 jobs, or about 8 percent of its workforce, by October 2014.

Veghte, 44, is tackling the new job just four months after Whitman anointed him as HP's chief strategy officer. At the time, Whitman added that role to Veghte's duties overseeing HP's software division. Just last week, Whitman called upon Veghte to address disappointing sales at Autonomy, a data analytics division that HP bought last year for $11 billion.

With Veghte's elevation Wednesday, the company hired George Kadifa, 53, from the private equity firm Silver Lake Partners to run HP's software division, which generated revenue of $3.2 billion during the company's fiscal year ending in October. Veghte will continue to shape HP's strategy as it focuses on delivering software services over the Internet, data analysis and computer security.

HP, which is based in Palo Alto, Calif., hired Veghte in 2010, shortly after he ended a nearly 20-year career at Microsoft Corp., where he oversaw the software maker's Windows vision.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


262
2012-27-30
Wednesday, 30 May 2012 06:27 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved