HP CEO Meg Whitman Steps Down, Dion Weisler Takes Over

HP's CEO for the past five years, Meg Whitman, announced she will step down on February 1, 2018.

Succeeding Whitman will be Dion Weisler, current head of HP Enterprise Group.

Whitman's resignation comes after a five-year tenure marked by a number of challenges, including a decline in PC sales and stiff competition from rivals such as Dell and Lenovo.

Under Whitman's leadership, HP split into two separate companies: HP Inc., which focuses on PCs and printers, and Hewlett Packard Enterprise, which focuses on enterprise hardware and software.

Weisler, a 28-year HP veteran, is expected to bring a fresh perspective to the company.

He is known for his work in developing HP's cloud computing strategy and for his experience in the enterprise market.

HP's board of directors expressed confidence in Weisler's ability to lead the company into the future.

"Dion is a proven leader with a deep understanding of HP's business and the technology industry," said Robert Bennett, HP's lead independent director.

"We are confident that he has the vision and experience to lead HP to continued success."

Weisler said he is "honored and excited" to take on the role of CEO.

"I am committed to working with our team to build on HP's strong foundation and create a future of growth and innovation," he said.