PALO ALTO, Calif. – HP Inc. (NYSE:) has announced the appointment of Karen Parkhill as its new Chief Financial Officer effective August 5, 2024. Parkhill, previously the Executive Vice President and CFO of Medtronic (NYSE:) plc, brings over a decade of experience in finance leadership roles to HP.
The company’s current interim CFO, Tim Brown, will resume his position as head of Print Finance following Parkhill’s induction. HP President and CEO Enrique Lores expressed confidence in Parkhill’s ability to drive the company’s financial strategy and operational discipline, enhancing growth and stakeholder value as part of HP’s Future Ready strategy.
Parkhill’s career began in investment banking at JP Morgan, where she developed expertise in mergers and acquisitions and capital markets. She later served as CFO for JP Morgan’s Commercial Banking sector and as Vice Chairman and CFO for Comerica Incorporated (NYSE:).
In addition to her executive roles, Parkhill is actively involved in corporate governance, serving as a board member and chairing the Risk Committee at American Express (NYSE:). Her previous engagements include membership in the International Women’s Forum and board positions with the Boys and Girls Club of America and Methodist Health System.
Parkhill holds bachelor’s degrees in business administration and mathematics from Southern Methodist University and an MBA from the University of Chicago Booth School of Business.
HP Inc. is known for its wide array of innovative and sustainable technology solutions, including personal computing, printing, and 3D printing products, catering to various segments such as hybrid work and gaming. This leadership change comes as the company seeks to navigate the evolving tech landscape and maintain its position as a global technology leader.
This information is based on a press release statement from HP Inc.
In other recent news, HP Inc. has made several significant developments. The company has expanded its Board of Directors with the appointment of Fama Francisco, a seasoned executive from Procter & Gamble. Francisco, who currently serves as the CEO of Baby, Feminine and Family Care at P&G, will join the Nominating, Governance and Social Responsibility Committee and the HR and Compensation Committee of HP’s board.
On the financial front, HP Inc. reported growth in its PC business for the first time in two years, largely due to robust commercial PC sales. In a recent earnings call, CEO Enrique Lores highlighted the company’s fiscal Q2 performance, with a focus on cost reduction and returning all free cash flow to shareholders, equating to roughly $400 million. Despite soft demand in the Print hardware segment, HP Inc. plans aggressive cost cuts and market share gains for the latter half of the year.
The legal proceedings involving Mike Lynch, the British entrepreneur behind Autonomy, a software firm purchased by HP for $11 billion in 2011, are nearing their conclusion. Lynch and former Autonomy finance executive, Stephen Chamberlain, are accused of fraudulent activities that allegedly inflated Autonomy’s revenue. A decision on HP’s claim of $4 billion in damages is still pending. These are the recent highlights from HP Inc.’s operations.
InvestingPro Insights
As HP Inc. (NYSE:HPQ) welcomes Karen Parkhill to the executive team, the company’s financial health and market performance remain a focal point for investors. According to InvestingPro data, HPQ boasts a market capitalization of $35.49 billion and a P/E ratio of 12.15, which adjusts to an even more attractive 10.94 when looking at the last twelve months as of Q2 2024.
Investors may find encouragement in HPQ’s dividend track record, with the company having raised its dividend for 7 consecutive years and maintained dividend payments for an impressive 54 years in total. This commitment to shareholder returns is complemented by a dividend yield of 3.04% as of mid-2024, showcasing the company’s dedication to providing consistent value to its shareholders.
Market performance metrics also paint a positive picture, with HPQ experiencing a strong return over the last three months, surging 21.87%. This upward trend is part of a broader pattern of robust returns, including a 26.13% one-year price total return, which signals investor confidence and market momentum for HPQ.
For those looking to delve deeper into HPQ’s financials and market predictions, InvestingPro offers additional insights. There are 9 analysts who have revised their earnings upwards for the upcoming period, suggesting potential for growth and profitability. Moreover, HPQ is trading at a low P/E ratio relative to near-term earnings growth, indicating that the stock may be undervalued given its earnings prospects.
Access further InvestingPro Tips by visiting https://www.investing.com/pro/HPQ, and discover more valuable information to inform your investment decisions. Additionally, use the coupon code PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of expert analysis and real-time data. With 12 additional tips available on InvestingPro, investors can gain comprehensive insights into HPQ’s financials and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
#appoints #Karen #Parkhill #CFO #starting #August #Investing.com
