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PALO ALTO, Calif. – HP Inc. (NYSE:HPQ), a $30.5 billion technology company and prominent player in the Technology Hardware industry according to InvestingPro, has expanded its Board of Directors with the appointment of technology and AI specialist Songyee Yoon, effective today. Yoon, the Founder and Managing Partner of Principal Venture Partners, brings a wealth of experience from her previous role as President for NCSoft Corporation, a prominent game developer.
"We’re thrilled to welcome Songyee to the HP Board of Directors," stated HP Board Chair Chip Bergh. Yoon’s international business acumen and deep AI knowledge are expected to play a pivotal role in advancing HP’s strategic initiatives. The company has demonstrated strong shareholder focus, maintaining dividend payments for 55 consecutive years with a current yield of 3.55%.
Yoon’s educational background includes a bachelor’s degree in electrical engineering from the Korea Advanced Institute of Science and Technology, a Juris Doctor degree from Santa Clara University, and a PhD in Computational Neuroscience from the Massachusetts Institute of Technology (MIT), where she also serves on the Board of Trustees.
Her industry experience is extensive, with significant contributions in technology, AI, and international business. At Principal Venture Partners, L.P., her focus is on AI-native company investments. Yoon’s tenure as President and Chief Strategy Officer at NCSoft was marked by global expansion and AI integration efforts. Furthermore, she has served on South Korea’s Presidential Advisory Council for Science and Technology under two presidents.
HP Inc. President and CEO Enrique Lores expressed confidence in Yoon’s ability to enhance the company’s AI-enabled technology offerings and contribute to growth. "With a proven track record in strategic capabilities and extensive experience in AI, Songyee will play a crucial role in advancing HP’s plans to lead in the future of work," Lores said.
HP Inc. is known for its wide array of innovative and sustainable products and services, including personal computing, printing, 3D printing, and solutions for hybrid work and gaming. The company operates in over 170 countries and continues to focus on connecting people to important aspects of their lives. With annual revenue of $53.6 billion and a P/E ratio of 11.5, InvestingPro analysis suggests HP is currently undervalued, with additional insights available in their comprehensive Pro Research Report covering 1,400+ top stocks.
This announcement is based on a press release statement from HP Inc.
In other recent news, HP Inc. has appointed Carol Surface, a former Apple (NASDAQ:AAPL) executive, as its new Chief People Officer. This development comes after Apple recorded a significant 17.3% year-over-year increase in Q4 PC shipments, boosting its global market share to 10.1%. In contrast, HP experienced a slight decline in shipments, with Bernstein analysts maintaining a Market Perform rating on HP shares due to concerns over its printing business and earnings.
The company’s performance has also prompted HSBC to downgrade HP shares from Buy to Hold, citing a weaker-than-expected outlook for 1QFY25 and rising commodity costs. Despite these challenges, TD Cowen lifted its price target for HP by $7, maintaining a Hold rating based on expected growth in free cash flow for FY25. These recent developments provide insight into HP’s current market position and future prospects.
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