HP Inc. expands board, appoints new independent director

HP Inc. (NYSE:HPQ), the $30.57 billion technology giant, announced the expansion of its Board of Directors and the appointment of Songyee Yoon as a new independent director, effective Thursday. According to InvestingPro analysis, HP maintains a FAIR financial health score and trades at an attractive P/E ratio of 11.5x. The Palo Alto, California-based company declared that Yoon’s election to the board was part of its ongoing commitment to strong corporate governance.

Yoon, who is currently the Managing Partner of Principal Venture Partners, L.P., a venture capital firm, brings a wealth of experience to the HP board. Recognized for her independence according to the New York Stock Exchange standards and HP’s Corporate Governance Guidelines, Yoon will also join the Audit Committee and the Finance, Investment, and Technology Committee. This appointment comes as HP demonstrates strong shareholder-friendly policies, including a 3.55% dividend yield and an impressive 55-year streak of consistent dividend payments, as revealed by InvestingPro data.

HP’s board decided to increase the number of directors from 13 to 14 to accommodate Yoon’s appointment. A seasoned venture capitalist, Yoon will receive compensation in line with the company’s policy for non-employee directors. This includes a pro-rated annual cash retainer and equity retainer for her first partial year of service, with the latter being paid in the form of fully vested shares.

HP confirmed that there are no undisclosed arrangements or transactions involving Yoon that would require reporting under SEC regulations. The company’s bylaws were amended to reflect the increase in board size, an action effective from Thursday as well.

For deeper insights into HP’s governance structure and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively on InvestingPro, which covers this and over 1,400 other top US stocks with expert analysis and actionable intelligence.

In other recent news, HP Inc. has seen a series of significant developments. The company has made two notable appointments, with AI expert Songyee Yoon joining the board and former Apple (NASDAQ:AAPL) executive Carol Surface taking on the role of Chief People Officer. Yoon brings a wealth of experience in AI and international business, while Surface is recognized for her expertise in building high-performance teams.

In terms of market performance, HP Inc. maintained its second position in the global PC vendor market, despite a slight decline in shipments, according to IDC. Bernstein analysts have kept a Market Perform rating on HP Inc., citing concerns over the company’s printing business and a modest decline in operating profits. HSBC downgraded HP Inc. shares from Buy to Hold following the company’s weaker-than-expected guidance for the first quarter of Fiscal Year 2025, attributing the downgrade to significant commodity cost pressures.

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