[Vms.sig-hu] HP announces IPG and PSG combination (fwd)

[Fodor Zsuzsa]

---------- Továbbított levél ----------
Dátum: Fri, 14 Jan 2005 11:35:01 -0500
Feladó: Skonetski, Susan <susan.skonetski at hp.com>
Címzett: Skonetski, Susan <susan.skonetski at hp.com>
Tárgy: HP announces IPG and PSG combination


HP Combining Imaging & Printing and Personal Systems Groups to
Accelerate Profitable Growth and Leverage Its Portfolio

Retirement of Personal Systems Group EVP Duane Zitzner announced

PALO ALTO, Calif., Jan. 14, 2005 
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HP today announced that it is combining its Imaging and Printing Group
and Personal Systems Group to accelerate profitable growth, leverage 
the
power of its portfolio and strengthen its market position. 

To continue to provide investors with transparency and visibility to
financial performance, HP's external segment reporting will not change. 

The newly formed Imaging and Personal Systems Group (IPSG) will be 
led
by Vyomesh Joshi, a 24-year veteran of HP, who has served for three
years as executive vice president of the Imaging and Printing Group. 

Duane Zitzner, former executive vice president of the Personal Systems
Group, has retired from HP after 15 years with the company. Zitzner, 57,
played a key role in HP's success. 

"Over the past few years, Duane has led the Personal Systems Group
through a significant turnaround, with profitability improvements in
each year," said Carly Fiorina, HP chairman and chief executive officer.
"He has successfully stabilized the business, returned it to
profitability and growth, and leaves it in a healthy position for
continued improvement under Vyomesh.

"I want to thank Duane for his many outstanding contributions to HP 
and
wish him a wonderful retirement," said Fiorina.

Zitzner will work with Joshi, 50, to ensure the organization's smooth
transition. 

New IPSG business formed

The establishment of the IPSG business brings together HP's Imaging 
and
Printing Group, responsible for the company's printer, imaging and
supplies business, projectors and digital cameras, with the Personal
Systems Group, which includes desktop and notebook PCs, handheld
products, personal storage appliances and workstations.

The new IPSG organization will maximize efficiency, accelerate time to
market and intensify competitive focus. Combining the Imaging and
Printing Group and the Personal Systems Group builds on the
collaboration already established between the organizations. The
partnership resulted in the company's Big Bang and digital 
entertainment
initiatives, as well as solution bundles for the consumer and small and
mid-size business segments. 

"There is no person better suited to lead this new organization than
Vyomesh Joshi. Under his leadership, the Imaging and Printing Group 
has
grown to be a highly profitable $24 billion business that leads the
market in virtually every category in which it competes," continued
Fiorina. "Applying this leadership to the newly combined organization
allows us to achieve an even higher level of performance." 

About HP

HP is a technology solutions provider to consumers, businesses and
institutions globally. The company's offerings span IT infrastructure,
global services, business and home computing, and imaging and 
printing.
For the four fiscal quarters ended Oct. 31, 2004, HP revenue totaled
$79.9 billion. More information about HP (NYSE, Nasdaq: HPQ) is
available at http://www.hp.com.

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This news release contains forward-looking statements that involve
risks, uncertainties and assumptions. If the risks or uncertainties
materialize or the assumptions prove incorrect, the results of HP and
its consolidated subsidiaries may differ materially from those expressed
or implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements that
could be deemed forward-looking statements, including statements 
about
expected growth, profitability and market position; management and
organizational structure; the expected development, performance or
rankings of products and services; statements of expectation or belief;
and any statement of assumptions underlying any of the foregoing. 
Risks,
uncertainties and assumptions include the development, performance 
and
market acceptance of products and services, strategy and 
organizational
structure, and other risks that are described from time to time in HP's
Securities and Exchange Commission reports, including but not limited 
to
HP's Quarterly Report on Form 10-Q for the period ended July 31, 2004
and other reports filed after HP's Annual Report on Form 10-K for the
fiscal year ended Oct. 31, 2003. HP assumes no obligation and does not
intend to update these forward-looking statements.