Hewlett Packard Enterprise (HPE) recently announced that its Executive Vice President and Chief Financial Officer (CFO), Tarek Robbiati, will be resigning from his position, effective August 25, 2023. Robbiati will be leaving HPE to take on the role of Chief Executive Officer (CEO) at RingCentral, Inc. In the meantime, Jeremy Cox, the Senior Vice President, Corporate Controller, and Chief Tax Officer at HPE, will step in as the interim CFO while the company and its Board of Directors conduct a search for a permanent CFO.
Robbiati joined HPE as CFO in September 2018 and played a significant role in transforming the company into an edge-to-cloud company. Under his leadership, HPE successfully shifted its portfolio towards higher-growth, higher-margin segments, positioning itself to capitalize on market opportunities in the edge computing, hybrid cloud, and artificial intelligence (A.I.) spaces. HPE expressed its gratitude towards Robbiati and wished him the best as he ventures into his new role as a CEO.
Reflecting on his tenure at HPE, Robbiati expressed pride in the company’s accomplishments during his almost five years of service. He commended the dedicated team at HPE and the successful transition to a platform-based model, driven by a software- and services-rich portfolio. Additionally, he highlighted the strengthening of HPE’s financial profile, which contributed to the company’s ongoing success in the market. Robbiati’s time at HPE saw improvements in gross margins, operating profit margin, and free cash flow, as well as the completion of various strategic acquisitions. Prior to joining HPE, Robbiati held the CFO position at Sprint Corp.
Despite the CFO resignation, HPE affirmed its financial guidance for the third quarter of fiscal 2023 and for the entire fiscal year. However, exact estimates for certain metrics, such as GAAP diluted net earnings per share and GAAP operating profit growth rate, could not be provided at the time due to ongoing accounting processes. HPE will release its third-quarter fiscal 2023 earnings on August 29, 2023.
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