Hire Wire May 30 2012

H-P Promotes Software Chief Veghte to COO

By Kristin Jones

Hewlett-Packard Co. has named Bill Veghte, who recently led the company's software business, to fill the newly created position of chief operating officer.

George Kadifa, recently an executive at technology investment firm Silver Lake, will take over Veghte's role at HP Software as the company looks to rework its software offerings.

The changes in the executive management team come shortly after H-P unveiled plans to lay off 27,000 employees—about 9% of its workforce—amid sliding profits. It plans to use the savings to boost investment in cloud, big data and security.

The company, which is the world's largest computer maker by volume, said sales in its PC business were relatively flat and its printing business sales were also slow in the fiscal second quarter. Chief Executive Meg Whitman said last week that the results appeared to be stabilizing.

Veghte will oversee H-P's strategy, reporting to Ms. Whitman and working with other members of the executive team.

"Bill has done an excellent job delivering strong results in HP Software, and more recently helping us focus our efforts in the execution of our strategy," said Ms. Whitman.

Kadifa was recently operating partner for the value creation team at Silver Lake. He has also held an executive role at International Business Machines Corp.

"George brings a wealth of experience gained at traditional software companies, service providers and start-ups," said Ms. Whitman. "His ability to manage multiple business models will prove extremely valuable to HP as we extend our software offerings in cloud, information and security."

This story first appeared on WSJ.com.

Write to Kristin Jones at kristin.jones@dowjones.com

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