Key Takeaways
• HP named longtime board member Bruce Broussard as interim CEO following Enrique Lores’ departure, signaling stability while the board conducts a formal search for a permanent CEO.
• The board emphasized confidence in HP’s current strategy – focused on the “Future of Work” and AI-driven growth – with Broussard expected to execute existing initiatives rather than shift direction.
HP Inc. announced yesterday that Bruce Broussard, who has been with the Palo Alto company’s board of directors since 2021, has been named interim CEO.
Broussard will succeed outgoing President and CEO (and board member) Enrique Lores with immediate effect as Lores leaves HP to pursue another professional opportunity, the company said. Reports from Semafor indicate that Lores will lead Paypal.
HP’s board has formed a CEO Search Committee to find a permanent CEO with the aid of an executive search firm.
While the search goes on, HP will rely on Broussard’s 30-plus-year career in management. Most recently, Broussard served as the president and CEO of Humana Inc. in the healthcare industry.
“This is an important time in HP’s history as the company advances its plan to lead the ‘Future of Work,’” HP’s Chairman of the Board Chip Bergh said. “We are confident that Bruce will successfully drive the company’s initiatives forward, working closely with HP’s strong leadership team. Since joining the board, Bruce has been a valued contributor, steadfastly focused on shareholder value creation. We believe we have the right strategy in place, and Bruce is the right leader to move HP forward while we identify our next CEO.”
Before his time at Humana, Broussard also spent 11 years at US Oncology as chief financial officer, CEO and chairman of the board. Following the organization’s sale to McKesson, he served as president of the specialty pharmacy division.
“HP is shaping the next era of technology with a relentless commitment to empowering people and businesses to thrive, and I am honored to serve as interim CEO,” Broussard said in a statement. “This proven team’s dedication to operational excellence has created significant momentum across the business amidst a complex environment. I look forward to being an effective steward of the company’s strategic progress and providing stability and continuity as we run a CEO search process.”
Upon the announcement, Lores reflected on his time with HP.
“I came to HP as an intern nearly four decades ago, and I’ve been on an incredible journey ever since,” he said in a press release. “It has been an honor to lead HP through its evolution into an AI-driven technology company that is redefining workplace solutions and connecting with customers globally. With strong teams around the world and a clear strategy for long-term growth, HP is well-positioned for the future, and I will continue to champion the team’s success.”
