In news that HP describes as a ‘leadership transition’, the company’s President and CEO for the last 6 years, Enrique Lores has resigned from HP and accepted a senior role at PayPal. Board member Bruce Broussard has duly been appointed as HP’s Interim CEO and the company was quick to reaffirm its positive first quarter performance and fiscal 2026 outlook.
HP 'leadership transition' sees Bruce Broussard (left) appointed as Interim CEO, while Enrique Lores (right) moves to PayPal
Broussard, a member of HP’s Board of Directors since 2021, says: “HP is shaping the next era of technology with a relentless commitment to empowering people and businesses to thrive, and I am honoured to serve as Interim CEO.”
“As we begin fiscal 2026, we will continue to drive our One HP platform to deliver technology that promotes growth and professional fulfillment for our customers and sustained value creation for our shareholders.”
“In the meantime, 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.”
Broussard himself brings more than 30 years of leadership experience at public companies to bear. He most recently served as President and CEO of Humana Inc., a leading healthcare company, for more than a decade. Before that, he served in multiple capacities during his 11-year tenure at US Oncology, including Chief Financial Officer, Chief Executive Officer, and Chairman of the Board. Upon the sale to McKesson, he became the President of the Specialty Pharmacy Division.
For his part, the departing Lores was an HP veteran of four decades, who started as an intern and gradually worked his way up to the top job in late 2019, where he has been busy overseeing HP’s push to reframe itself as an AI-focused workplace tech company while defending its core PC and print franchises – including its bid to make printing a subscription.
This backdrop to Lores CEO tenure was a tough hardware market, increasingly besieged by new AI-enabled products and services. The challenge of balancing these two distinct markets recently precipitating a restructuring plan that could still see around 5,000 jobs cut by 2028.
HP’s Board Chair Chip Bergh was quick to acknowledge the efforts of the outgoing Lores, publicly thanking him ‘for guiding HP through its recent transformation and helping position the company to lead this Future of Work staretgy’.
Bergh went on to say that: “Disciplined execution is delivering consistent progress in a dynamic environment. We are confident that Bruce will now successfully drive the company’s initiatives forward, working closely with HP’s strong leadership team.”
top executive role at PayPal, effective March 1, with the payments outfit lauding his "strong track record" and "disciplined execution."
Meanwhile, the PayPal Board issued its own statement about the appointment of Lores to a top executive role there (effective March 1st), saying ‘it evaluated its competitive position before settling on Lores as the leader it believes can drive growth and execution’. (PayPal has seen its stock tumble by more than 23% in the last three months).
Fittingly, Lores enjoyed the final word, saying: “It has been an honour to lead HP through its evolution into an AI-driven technology company that is redefining workplace solutions and connecting with customers globally. Over the last several years, our resilient team has successfully navigated the evolution of our world. We extended our leadership in Print and PCs, diversified our business with the addition of HP Solutions, and invested in our people. 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.”
In a separate press release, HP announced that it will present a live audio webcast to review financial results for the first fiscal quarter ended January 31, 2026, on Tuesday, February 24, 2026 – mkore detail on this is available via the HP’s Investor Relations website here
