Bitcoin price today: little changed near $119k ahead of Fed meet, tariff deadline
HP Inc (NYSE:HPQ), a prominent player in the Technology Hardware industry with a market capitalization of $32.6 billion, announced on Thursday the expansion of its Board of Directors with the appointment of Gianluca Pettiti as a new independent director. Pettiti, who currently holds the position of Executive Vice President and President, Life Sciences, Diagnostics and Applied at Thermo Fisher Scientific Inc (NYSE:TMO)., brings extensive experience to the HP board. According to InvestingPro data, HP maintains a "GOOD" financial health score, demonstrating solid operational performance.
The company’s Board of Directors, recognizing Pettiti’s qualifications under the New York Stock Exchange listing standards and HP’s Corporate Governance Guidelines, has also placed him on the Finance, Investment and Technology Committee, as well as the HR and Compensation Committee. As a non-employee director, Pettiti will be compensated in line with the company’s standard practices for such roles, including an annual cash retainer and equity in the form of fully vested shares. HP has demonstrated strong shareholder returns, with a notable dividend yield of 3.3% and an impressive track record of maintaining dividend payments for 55 consecutive years.
HP’s decision to increase the board size from 14 to 15 members was made effective on Thursday, with corresponding amendments to the company’s bylaws. These amendments were adopted to facilitate Pettiti’s appointment. The company’s bylaws were amended solely to account for the increase in the number of authorized directorships.
There are no reported arrangements or understandings between Pettiti and any other individuals in relation to his selection as a director, nor does he have any direct or indirect material interest in any transactions that would necessitate disclosure under SEC regulations.
The information in this article is based on a press release statement filed with the SEC.
In other recent news, HP Inc. has entered into a definitive agreement to acquire AI assets from the technology company Humane for $116 million. This acquisition includes the AI-powered platform Cosmos and over 300 patents, which will enhance HP’s capabilities in AI-integrated devices. The transaction is expected to close by the end of the month. Additionally, HP has expanded its Board of Directors by appointing Songyee Yoon, an AI specialist, as a new independent director. Yoon’s appointment aligns with HP’s strategic focus on AI and innovation, as she brings extensive experience from her role as President at NCSoft Corporation.
Moreover, Carol Surface has been named as HP’s new Chief People Officer, taking over from Kristen Ludgate. Surface, who formerly held the same position at Apple (NASDAQ:AAPL), is recognized for her expertise in building high-performance teams. In the PC market, HP maintained its position as the second-largest global vendor despite a slight 1.7% decline in shipments year-over-year. Analysts have maintained a Neutral stance on HP, citing concerns about its print outlook, although improvements in the PC market and cost controls offer some mitigation. These developments reflect HP’s ongoing efforts to strengthen its leadership and technological capabilities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.