In a surprise move, HP Inc. has announced that Enrique Lores is stepping down as President and CEO, effective immediately. Lores, who has been with the company for nearly four decades, is leaving the tech giant to pursue a new professional opportunity at PayPal. Board member Bruce Broussard will take the reins temporarily.
Lores’ departure marks the end of an impressive career at HP. He started 36 years ago as an intern and has led the company as CEO for the past seven years. Under his leadership, HP transformed into an AI-driven technology company and strengthened its position in the printer and PC markets.
“It has been an honor to lead HP through its evolution into an AI-driven technology company,” said Lores in a farewell statement. Although his departure is sudden, he said he will continue to champion the team’s success from his new role elsewhere.
The Board of Directors has appointed Bruce Broussard to lead the transition. Broussard is no stranger to HP, having served on the Board of Directors since 2021. He most recently served as President and CEO of Humana Inc., a leading healthcare company, for more than a decade.
Chip Bergh, Chairman of the Board of Directors, expressed confidence: “We believe we have the right strategy in place, and Bruce is the right leader to move HP forward while we identify our next CEO.”
