Hewlett Packard Enterprise Co (HPE) Revenue Rises Y/Y, CEO Steps Down

HPE CEO Meg Whitman to step down in 2018 ars_ab.settitle(1208935);

Ms. Whitman, 61, will retire in February, the company said on Tuesday.

XAutoplay: On | OffThe company said Antonio Neri, who was named company president in June, will replace Whitman.

Still, while Wall Street had been prepared for the succession plan, investors reacted negatively to the news.

HPE reported fiscal fourth-quarter adjusted earnings of 31 cents a share, above estimates. "Today, Hewlett Packard moves forward as four industry-leading companies that are each well positioned to win in their respective markets", said Whitman.

Both Whitman and Neri will serve on the company's board.

In one tweet she wrote: "We have a lot of work still to do at HPE and I am not going anywhere". Also, there's "no chance" she'd join an HPE competitor or HP.

In another she said: "So let me make this as clear as I can".

At the same time, Whitman seemed to be wavering in her commitment to HPE. When I asked Heidrick & Struggles, the renowned Silicon Valley headhunting firm, about Whitman's prospects for getting another gig, it declined my request, citing its "policy of not commenting on candidates or companies engaging in a search". "Uber's CEO will not be Meg Whitman".

If she was offered the job, Whitman said she's still not sure if she would have taken it. Whitman argued that she prefers running smaller businesses because it gives her a chance to be in-depth with the customers. "I think she's happiest when she's doing that".

Whitman, who was considered for the position of Uber CEO earlier this year, unsuccessfully ran for governor of California as a Republican in 2010.

Here's an excerpt from my profile of Whitman that explores the possibilities for what she might do next.

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