Former technology company Hewlett-Packard (NYSE:HPQ) is falling financially but the company’s CEO Meg Whitman refuses to give up on the company. As the new chief executive for the once-thriving corporation, it’s part of her job to talk to shareholders and convince them to stay.
At a recent annual meeting, Whitman gave many reasons as to why current investors should stay on board. She told them “HP matters. Without HP, the United States Navy can’t deploy ships. British pensioners don’t get their checks on time. Healthcare doesn’t get delivered.”
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More
Whitman further elaborated with her prediction for the company, “It took us awhile to get where we are and it’s going to take us awhile to get out.” She continued to convince them not to listen to critics and even took the time to explain her plan and vision for the company’s future. She admitted that their cost-structure is flawed and that it’s going to take some big changes to secure a successful tomorrow. Suggestions including streamlining the operations, removing complex processes, and focusing on the company’s current successes which include storage, networking, and enterprise servers. Another crucial lifesaver for the company will involve spending less money. Whitman said the HP must spend less than they are currently, which is nearly $4 billion.
Only tine will tell if Meg Whitman’s promises are carried out. If HP stays afloat in two years, the company will celebrate 7o years. Unfortunately, the world of technology is ever changing at a fast pace that if a company fails to keep up with the ever-changing demands of consumers and businesses, they are out of luck. I would like to see HP stay around for a long time but I must admit that the future is looking pretty bleak for them so who really knows what will happen to in the next few years?
Hewlett-Packard, or HP as the company is commonly referred to, was a successful giant in the world of technology and software long before Apple took the lead as they set the standards for personal computing. In the past year, HP decided to phase out of the smartphone and tablet computer business due to lagging sales