HP has announced that board member Bruce Broussard will step into the role of Interim CEO following Enrique Lores’ departure from the company.
Lores, who spent 36 years with the technology giant, including seven years as CEO, is leaving to take over as CEO of PayPal.
“On behalf of everyone at HP, I want to thank Enrique for his contributions over the last 36 years and leadership as CEO for the last seven years. Enrique has guided HP through its recent transformation and helped position the company to lead the Future of Work. We wish him well in his next chapter,” said Chip Bergh, Chairman of the Board.
HP’s board has launched a formal search process for a permanent CEO, engaging a global executive search firm to identify candidates. Bergh emphasized that the company’s strategic initiatives remain on track, with Broussard positioned to maintain momentum during the transition period.
Seasoned Healthcare Executive Takes the Helm
Bruce Broussard’s credentials extend well beyond his three years on HP’s board. His more than 30 years of leadership experience span multiple public companies, including Humana, one of America’s largest healthcare organizations.
Before joining Humana, Broussard spent 11 years at US Oncology, where he held several leadership positions, including Chief Financial Officer, Chief Executive Officer, and Chairman of the Board. Following US Oncology’s sale to McKesson, he became President of the Specialty Pharmacy Division, further expanding his experience managing large-scale operations.
His familiarity with HP’s business model and strategic priorities, developed during his tenure as a board member since 2021, positions him well to take on the interim role.
“HP is shaping the next era of technology with a relentless commitment to empowering people and businesses to thrive, and I am honored to serve as Interim CEO,” Broussard said.
His focus will be on what the company calls its “One HP platform,” designed to deliver integrated technology solutions that drive customer growth.
Leadership Change Created by New Opening
The executive transition arrives just days after HP’s earnings call. However, it was not HP’s results that seemingly prompted the move but those of PayPal.
PayPal recently issued a disappointing profit forecast for 2026 and reported fourth-quarter earnings that fell short of Wall Street expectations.
PayPal’s board reportedly said the decision to remove CEO Alex Chriss was due to the “pace of change” not being fast enough.
During Lores’ seven-year tenure as CEO, HP navigated significant market shifts while maintaining its leadership positions in both printing and personal computing. This track record may explain why he was chosen for the PayPal top job, as the once-ubiquitous online payment service now faces tough competition from Google Pay and Apple Pay.
HP Positions for Future Amid Leadership Transition
As HP moves forward with its CEO search, the company appears committed to maintaining the strategic direction established under Lores’ leadership.
Chairman Bergh’s confidence in the existing strategy suggests that whoever assumes the permanent CEO role will be expected to execute established priorities rather than pursue a major strategic shift.
The company has scheduled its fiscal first-quarter 2026 earnings release for late February.
