8-KEarnings & ResultsLeadership ChangesRegulation FD+1

Hewlett Packard Enterprise Co 8-K Report, Financial Results (Aug 7, 2023)

Filed August 7, 2023For Securities:HPEHPE-PC

Summary

Hewlett Packard Enterprise Company (HPE) filed an 8-K on August 7, 2023, primarily to announce a change in its Chief Financial Officer and provide updated financial guidance for the third quarter and the remainder of fiscal 2023. Tarek Robbiati will resign as EVP and CFO, effective August 25, 2023, to pursue a CEO role at RingCentral, Inc. His departure is not due to any disagreements with the company. Jeremy K. Cox, currently HPE's Senior Vice President, Corporate Controller, Chief Tax Officer, and Principal Accounting Officer, has been appointed Interim CFO, effective August 25, 2023. The filing also incorporates by reference a press release containing financial guidance, although the specific guidance figures are not detailed within the 8-K itself but are available in the referenced exhibit.

Key Highlights

  • 1Tarek Robbiati resigns as Executive Vice President and Chief Financial Officer, effective August 25, 2023.
  • 2Robbiati's departure is amicable and he is moving to become CEO of RingCentral, Inc.
  • 3Jeremy K. Cox appointed as Interim Chief Financial Officer, effective August 25, 2023.
  • 4Cox will continue in his current roles as SVP, Corporate Controller, Chief Tax Officer, and Principal Accounting Officer.
  • 5The company issued updated financial guidance for Q3 and the full fiscal year 2023, as detailed in an accompanying press release (Exhibit 99.1).
  • 6HPE utilizes non-GAAP financial measures to provide greater transparency to investors and facilitate comparisons with industry peers.

Frequently Asked Questions

Jeremy K. Cox has been appointed as the Interim Chief Financial Officer, effective August 25, 2023. He will continue to hold his current positions as Senior Vice President, Corporate Controller, Chief Tax Officer, and Principal Accounting Officer.

Tarek Robbiati is leaving HPE to become the Chief Executive Officer of RingCentral, Inc. The company states that his decision is not a result of any disagreements regarding its operations, policies, or financial matters.

The updated financial guidance for the third quarter and the remainder of fiscal 2023 is provided in the press release attached as Exhibit 99.1 to this 8-K filing. Investors should refer to Exhibit 99.1 for specific guidance details.

As of the filing date, no new or other compensatory arrangements have been entered into with Jeremy K. Cox in connection with his appointment as Interim Chief Financial Officer.