Shares of Hewlett Packard Enterprise (NYSE:HPE) increased by 0.5% following news of a collaboration agreement with activist investor Elliott Investment Management.
The tech firm announced it will establish a new Strategy Committee within its Board of Directors to explore avenues for enhancing shareholder value. As part of the deal, Robert Calderoni—an experienced tech leader and current Chairman of KLA Corp.—will join the board as a director starting July 16, 2025.
Calderoni will lead the newly created Strategy Committee, tasked with reviewing HPE’s business strategies and uncovering additional value creation prospects. Committee members will also include Gary Reiner, Raymond Lane, and Charles Noski. Furthermore, Calderoni will join the Integration Committee, which was formed after HPE’s recent acquisition of Juniper Networks (NYSE:JNPR).
The agreement with Elliott includes provisions for continuous information exchange, enabling ongoing dialogue between the activist investor and HPE. Elliott also retains the right to nominate a board representative at any time before the standstill period ends.
Jason Genrich, Elliott Partner and Senior Portfolio Manager, stated: “We appreciate the positive dialogue we have had with HPE’s Board and see substantial value ahead. We believe Bob’s appointment to the Board and his leadership of the new Strategy Committee will help HPE identify meaningful operational and strategic opportunities for shareholder value creation.”
Hewlett Packard Enterprise stock price
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