After successfully piloting HP's software division and, presumably, performing well as the company's chief strategy officer, Bill Veghte is getting a promotion. Effective immediately he'll be taking over as COO of the struggling computer manufacturer and finally handing over the keys to HP Software. As Veghte is forced to give up his executive vice president's position, George Kadifa will be stepping it to take up the charge of leading the non hardware-based part of the business. The move will also mean that Veghte will be working even more closely with CEO Whitman, who expressed confidence in Veghte. The shakeup comes shortly on the heels of a particularly tough financial quarter and the announcement of 27,000 layoffs. Check out the complete PR after the break.
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HP Appoints George Kadifa to Lead HP Software
Bill Veghte named chief operating officer
PALO ALTO, Calif., May 30, 2012
HP today announced that George Kadifa has been appointed executive vice president of the company's Software business, a role he takes over from Bill Veghte. Veghte has been named HP's chief operating officer (COO), and will continue to oversee the HP strategy. Both announcements are effective immediately.
Kadifa, a 30-year veteran of the IT industry, will report to Meg Whitman, president and chief executive officer, HP, and will join the HP executive council. He will lead HP's multibillion dollar IT Performance Suite software portfolio, which enables enterprise IT organizations to manage and secure IT from applications to infrastructure in the cloud and on premise across platforms.
Kadifa joins HP from Silver Lake, a global technology investment firm with more than $14 billion of assets under management, where he most recently served as operating partner for the Value Creation Team. In that role, he was responsible for driving operational improvement and growth in a wide range of enterprises within the 24-company portfolio of the firm's large-cap investment fund. Prior to that, he held executive positions at both IBM and Corio. Throughout his career, he has built strong expertise in sales, business development, consulting management and general management.
"George brings a wealth of experience gained at traditional software companies, service providers and startups," said Whitman. "His ability to manage multiple business models will prove extremely valuable to HP as we extend our software offerings in cloud, information and security."
As COO, Veghte will help further accelerate the execution of the company's strategy by working across HP to drive innovation and customer satisfaction. Veghte will work closely with Whitman as well as his peers on HP's executive council to support key projects affecting the company's operational success.
"Bill has done an excellent job delivering strong results in HP Software, and more recently helping us focus our efforts in the execution of our strategy," said Whitman. "With Bill's additional responsibilities, I am confident we can accelerate progress across our portfolio of assets.
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at http://www.hp.com.