HOUSTON - Hewlett Packard Enterprise (NYSE: NYSE:HPE), a $28 billion technology giant currently trading at an attractive valuation according to InvestingPro Fair Value metrics, has announced the appointment of Maeve Culloty as Executive Vice President, President, and CEO of HPE Financial Services, effective May 1, 2025. Culloty, who has been with the company since 2007, will take over from Gerri Gold, who is set to retire at the end of HPE's second fiscal quarter.
Culloty's tenure at HPE has seen her in various senior management roles, most recently as the Chief of Staff to HPE President and CEO Antonio Neri. In her new position, she will continue to report to Neri and serve on the company's executive committee. Her responsibilities will include overseeing the global financing and asset management business, which supports HPE's edge-to-cloud strategy and assists customers and partners with their digital transformations.
HPE Financial Services is noted for operating one of the world's largest IT manufacturer refurbishing facilities, processing up to four million assets annually, with the majority being refurbished and reused. The division contributes to HPE's overall strong financial performance, with the company generating $30.13 billion in revenue over the last twelve months and maintaining a healthy dividend yield of 2.27%. Neri praised Culloty's deep understanding of the capital markets and the IT industry, expressing confidence in her leadership and vision for the role.
Culloty, who is a qualified CPA, holds a bachelor's degree in business from the University of Limerick and a diploma in Applied Financial Law from the Law Society of Ireland. Prior to her recent roles, she led the HPE Ireland business as the Managing Director and has served on the board of Hewlett Packard International Bank DAC.
Gold's retirement follows a 23-year career with Compaq, HP (NYSE:HPQ), and HPE, where she was recognized for her outcome-driven approach to solving complex business challenges and her advocacy for asset management as a key element of HPE's sustainability strategy. She expressed pride in the growth and success of HPE Financial Services and gratitude for the opportunity to lead the organization.
HPE, known for helping organizations accelerate outcomes by unlocking value from data everywhere, offers a range of technology solutions as a service, including Cloud Services, Compute, High Performance Computing & AI, Intelligent Edge, Software (ETR:SOWGn), and Storage.
The information for this report is based on a press release statement from Hewlett Packard Enterprise.
In other recent news, HP Enterprise reported a 15.1% year-over-year increase in its October quarter revenue, reaching $8.46 billion and surpassing consensus expectations. The company also noted a substantial backlog of $3.5 billion in AI system orders. Amid these developments, HP Enterprise is facing potential obstacles in its pending acquisition of Juniper Networks (NYSE:JNPR). Evercore ISI maintained its In Line rating for HP Enterprise, while Loop Capital raised its price target for the company to $24.00. Meanwhile, Citi upgraded HP Enterprise from Neutral to Buy, setting the price target at $26.00.
HP Enterprise indicated that the acquisition could be finalized in early 2025, slightly later than initially expected. Juniper Networks' contribution to HP Enterprise's earnings per share (EPS) for fiscal year 2025 is projected to be approximately 5 cents, potentially leading to a 10% increase in the longer term. However, concerns about the U.S. Department of Justice potentially blocking the deal have emerged.
In other developments, HP Enterprise secured a contract exceeding $1 billion with Elon Musk's social media platform X to supply AI-optimized servers. The company also announced a dividend for its preferred stockholders, set at $0.953125 per share. These are among the recent developments shaping HP Enterprise's journey.
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