The one-month CEO selection has come to an end! HP (HPQ.US) invited the former head of GlaxoSmithKline to solve the problems of rising memory prices and PC demand

The Zhitong Finance App learned that HP (HPQ.US) announced that it has hired Emma Walmsley, the former CEO of GlaxoSmithKline (GSK.US), as a new CEO (CEO) to officially fill the CEO gap left by Enrique Llores after leaving office earlier this year.

HP said in a statement on Wednesday that Wormsley's appointment will take effect on January 4. She will succeed Bruce Broussard, who was appointed interim CEO when Lores left PayPal (PYPL.US) in February. Broussard will be chairman of the board in January next year.

Wormsley also serves as a board member of Microsoft (MSFT.US). She has been CEO of the British pharmaceutical company GlaxoSmithKline for nearly nine years and is one of the few female CEOs among FTSE 100 stock companies. During her tenure, she led the company through the pandemic, leading the launch of the RSV vaccine and the spin-off of the consumer business into Haleon Plc (HLN.US). The company's sales increased dramatically and R&D investment doubled, although the stock price — which fell by about 10% during her tenure — disappointed investors.

After taking up the new job, Walmsley needed to lead HP in dealing with the impact of an unprecedented rise in the cost of memory chips, which has forced the company to raise the price of various PCs and redesign other products. The company said at the end of last year that it would cut 4,000 to 6,000 employees by fiscal year 2028 through greater use of artificial intelligence (AI) tools. In the fiscal third quarter results announcement in August of this year, HP raised its quarterly profit forecast, but investors reacted lackluster, and the core concerns of the market focused on the long-term demand prospects for PCs and printers.

Hewlett-Packard shares rose about 2% before the US market on Wednesday.

During her tenure at GlaxoSmithKline, Wormsley was pressured by aggressive shareholders initiated by Elliott Investment Management. The agency questioned that Wormsley lacked a scientific research background and was unfit to take charge of GlaxoSmithKline, but in the end, she withstood this challenge.

Wormsley also completed a number of major deals during her time at GlaxoSmithKline. She warned that mergers and acquisitions must proceed carefully because “in the pharmaceutical industry, nothing can disrupt the R&D system more than aggressive pursuit of synergy effects.”