More than four years into his tenure, HP’s Australian CEO Dion Weisler announced his resignation for family health reasons and will be replaced by veteran Enrique Lores.

Lores has been with HP for 30 years and currently heads the printer, business and imaging solutions business and will take over as CEO on November 1.

He will remain an assistant in the transition until January 2020 and will retain his seat on the Board of Directors until the next shareholder meeting next spring.

Lores joined HP as an apprentice engineer, and subsequently stepped up positions to increase his powers as he was instrumental in acquiring the $ 1 billion Samsung printer sector, as well as putting HP on the stock exchange as two shareholders.

HP’s fourth-quarter revenue was $ 14.60 billion, lower than analysts’ forecasts due to a decline in printer sales.

It is noteworthy that the well-known HP company was divided in 2015 into two companies, the first sells computers, and the second sells servers and storage solutions and services to companies.

“Thirty years ago, I was drawn to HP by the company’s unique ability to bring out the best of humanity through the power of technology,” said Lores. “The opportunities ahead are vast and the need for us to keep reinventing is more important than ever. I continue to be inspired by our customers, partners and employees, who are turning bold ideas into meaningful innovations. This is where we will set our sights for the future.”

Source : hp