PALO ALTO, Calif. - HP Inc. (NYSE: NYSE:HPQ) has expanded its Board of Directors with the appointment of Ma. Fatima (Fama) De Vera Francisco, a seasoned executive from the Procter & Gamble Company. Francisco, who currently serves as CEO of Baby, Feminine and Family Care at P&G, joins the HP Board with immediate effect.
Chip Bergh, Chair of the HP Board, expressed his enthusiasm about Francisco's addition to the team, highlighting her extensive background in consumer brand-building and innovation. According to Bergh, Francisco's 35-year tenure at P&G, marked by leadership roles over some of the company's most significant brands, positions her as a valuable asset in steering HP's strategic direction.
HP Inc.'s President and CEO, Enrique Lores, also welcomed Francisco, noting her broad experience and strong track record as key factors that will contribute to the advancement of HP's Future Ready strategy. Lores anticipates that Francisco's insights will be beneficial to the company's continued growth.
Francisco's career at P&G is distinguished by several notable achievements, including being the first female sales manager hired in P&G Philippines and the first Asian female Sector CEO in P&G's long history. Her educational background includes a bachelor's degree in business administration and marketing from the University of the Philippines.
HP Inc., a global technology leader, operates in over 170 countries and offers a variety of devices, services, and subscriptions across personal computing, printing, 3D printing, and other areas. The company is known for its commitment to innovation and sustainability. This appointment reflects HP's ongoing efforts to diversify its Board, which is recognized as one of the most diverse in the U.S. technology sector.
In other recent news, HP Inc. has reported significant developments in both its legal and financial sectors. The fraud trial of Mike Lynch, the British entrepreneur behind Autonomy, a software firm purchased by HP for $11 billion in 2011, is nearing its conclusion in San Francisco. Lynch and former Autonomy finance executive, Stephen Chamberlain, are accused of fraudulent activities that allegedly inflated Autonomy's revenue. HP's claim of $4 billion in damages is still pending.
On the financial side, HP Inc. has 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.
InvestingPro Insights
HP Inc. (NYSE: HPQ) continues to demonstrate a strong commitment to corporate governance and strategic growth, as evidenced by the recent appointment of a new board member with a wealth of experience in consumer brands. This move aligns with HP's focus on innovation and market expansion, aspects that are also reflected in the company's financial and market performance.
InvestingPro data shows HP Inc. with a robust market capitalization of $35.2 billion, signaling a significant presence in the technology sector. The company's P/E ratio stands at 12.02, with an adjusted figure for the last twelve months as of Q2 2024 at 10.85, suggesting a potentially undervalued stock relative to near-term earnings growth—an insight echoed by an InvestingPro Tip highlighting the company's low P/E ratio in this context. Additionally, HP's dividend yield is currently at 3.1%, which is particularly notable considering the company's history of raising its dividend for 7 consecutive years, a streak that has now reached 54 consecutive years of maintained dividend payments.
InvestingPro Tips further indicate that 9 analysts have revised their earnings upwards for the upcoming period, which could be a positive sign for investors looking for growth prospects. Moreover, with a strong return over the last month of 14.72% and over the last three months of 17.62%, HP's stock performance appears to be on an upward trajectory. For investors seeking more in-depth analysis and additional tips, InvestingPro offers a comprehensive view of HP Inc. with more tips available at: https://www.investing.com/pro/HPQ. There are currently 13 additional InvestingPro Tips listed, which can be accessed along with a wealth of other financial data and analytics.
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