HP names former GSK chief Emma Walmsley as CEO

Nov 4 (Reuters) - HP ‌Inc on ​Wednesday ​named former GSK chief and Microsoft board member Emma Walmsley as CEO to steer ‌the PC maker through a memory-chip crunch that ⁠has driven up prices and triggered a steep industry ‌downturn.

She succeeds interim CEO Bruce ‌Broussard on January 4, with Broussard moving up to board chair in place of Chip Bergh.

Walmsley, ​who led GSK from 2017 until December last year, takes charge without prior tech hardware ⁠experience as HP looks to revive a sluggish PC market and capitalize ​on demand for AI-enabled devices.

HP, like peers Dell Technologies, Apple and Lenovo, is caught ​in a global memory chip ‌squeeze, as massive AI data center buildouts absorb much of the available capacity.

The ⁠strain showed in HP's third-quarter results in August, when PC shipments fell 16% even as the unit's revenue ⁠rose 18% on a shift toward pricier, higher-margin products including AI ​PCs.

The company said in an SEC filing in September it is not providing financial outlook for fiscal 2027 and ‌assumes industry-wide PC unit volumes will decline in the mid-single digits next year.

Before ‌her tenure at GSK, Walmsley spent 17 years at ⁠L'Oréal and has sat ‌on Microsoft's board ​for seven years.

(Reporting by Anzar Mehraj in Bengaluru; Editing by Anil D'Silva and Vijay ‌Kishore)

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