HP CEO steps down, citing ‘family health matter’

HP Inc. announced this afternoon that Dion Weisler is stepping down as president and CEO. The executive cited a “family health matter” in his decision, noting that he will be returning home to Australia.

The company already has a successor lined up, as its president of Imaging, Printing and Solutions, Enrique Lores, got unanimous approval from its board of directors. Lores will be assuming the top spot on November 1.

“Enrique is an inspiring and proven business leader and is the right person to lead HP into the future. Since the time of separation, the board has had an ongoing and diligent succession planning process that included vetting and benchmarking internal and external candidates,” board of directors chair Chip Bergh said in a statement. “Through this rigorous process, Enrique emerged as the board’s unanimous choice as successor and we are confident he will build on the company’s progress and capitalize on new opportunities.”

Meantime, Weisler is set to stay on the company’s board of directors through HP’s next shareholder meeting in order to “ensure a seamless transition.” That will keep him around through January of 2020. Weisler joined the company in 2012, becoming CEO in 2015 when HP split from HP Enterprise.

Lores’s history with the company reaches back much further. As HP notes, he joined the staff 30 years back, as an engineering intern.

“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,” Lores said in a statement. “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.”

The news arrived as part of the Bay Area-based printing company’s third-quarter earnings.