HP merges business groups, VJ retires

Under Joshi’s leadership, IPG has grown revenue from $19 billion to $26 billion, and doubled its operating profit to approximately $4 billion. “VJ embodies the spirit of HP and his impact on the company has been tremendous,” said Meg Whitman, President and CEO of HP. “Under his leadership, IPG accelerated innovation and pioneered solutions that transformed the printing market. We wish him the very best as he embarks on a new chapter in his life.”

Combining these two entities will rationalize HP’s go-to-market strategy, branding, supply chain and customer support worldwide, the company said, adding this will lead to a better customer experience and drive innovation across personal computing and printing. The realignment is expected to provide opportunities for cost savings and accelerate HP’s ability to pursue profitable growth and reinvest in the business.

“This combination will bring together two businesses where HP has established global leadership,” said Whitman. “By providing the best in customer-focused innovation and operational efficiency, we believe we will create a winning scenario for customers, partners and shareholders.”

HP also announced that it will unify its Marketing functions across business units under Marty Homlish, Eexecutive Vice President and Chief Marketing Officer.