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HP won't spin off PC business after all
Oct 27, 2011, 23:40 GMT
San Francisco - HP has decided to keep its PC business, reversing the spin-off strategy championed by its now ousted CEO Leo Apotheker, the company announced Thursday.
'HP objectively evaluated the strategic, financial and operational impact of spinning off (the personal systems group) PSG,' said Meg Whitman, who replaced Apotheker as the technology giant's CEO and President last month.
'It's clear after our analysis that keeping PSG within HP is right for customers and partners, right for shareholders, and right for employees. HP is committed to PSG, and together we are stronger.'
Whitman announced the decision after conducting a thorough strategic review of the plan to ditch the world's biggest PC manufacturing business, concluding that the level of integration and benefits that the PC sector contributed to HP's other businesses 'outweighed any benefits of separation.'
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