HP Inc hires former GSK boss as CEO

HP Inc. has appointed former GSK CEO Emma Walmsley as their new leader. Walmsley spent eight years at GSK and previously held marketing and general management roles at L'Oreal. While she has no experience running a tech company, she has served on Microsoft's board. HP's board praised her leadership experience across multiple industries and her ability to translate customer insights into growth.

In HP's first nine months of fiscal 2026, revenue increased by 10% year-over-year to $44.5 billion. Although print sales declined during this period, PCs drove growth. However, a memory crunch due to dwindling supplies has led to concerns about a potential contraction in the PC market, with global shipments decreasing by 20% in Q3. Analysts predict this trend will continue into the final three months of 2026.

Walmsley's experience at GSK, where she transformed the company into a platform with strong momentum, talent, and culture, may prove beneficial for HP. Despite her lack of a scientific background, she had a public clash with activist investor Elliot Management, which called for her to reapply for the GSK CEO role. Walmsley emphasized HP's role in shaping the future of work globally and expressed excitement about joining the team to harness AI's power and drive new growth.

As HP's new CEO, Walmsley aims to avoid repeating her predecessor's decision to initiate multiple redundancy rounds. Shareholders hope for sustainable improvement in the company's stock price. If HP's performance remains unsatisfactory, Walmsley may face further scrutiny from activist investors.