Latest news with #RobertCalderoni
Time of India
4 days ago
- Business
- Time of India
HPE adds KLA chair to board in pact with activist investor Elliott
Hewlett Packard Enterprise has agreed to cooperate with activist investor Elliott Investment Management and added a veteran tech executive to its board as part of efforts to boost shareholder value following its Juniper Networks acquisition . Robert Calderoni , chairman of chip tools maker KLA , has joined HPE's board and will lead a new strategy committee formed under a cooperation agreement with Elliott that includes information-sharing, the company said on Wednesday. Elliott, which holds a stake of more than $1.5 billion in HPE, also has the right to appoint an employee to HPE's board under the agreement that lasts at least a year and prevents the hedge fund from launching proxy contests. The announcement is a win for Elliott, which manages about $72.7 billion in assets and has a long history of pushing for changes at companies including Southwest Airlines, Phillips 66 and Texas Instruments. Elliott has been pushing ahead with campaigns globally this year despite market volatility that led many peers to settle. It won two seats at oil refiner Phillips 66 in May in a high-profile proxy fight. Shares of HPE, which makes servers deployed in data centers for AI workloads, were little changed in morning trading on Wednesday. The stock has declined 5% so far this year, underperforming AI server rivals such as Dell Technologies and the benchmark S&P 500 index. Demand has boomed for AI servers as big tech companies and startups race to roll out generative AI services such as ChatGPT that require huge amounts of computing power. But the business has been a drag on margins because of the high costs of advanced chips designed by the likes of Nvidia and Advanced Micro Devices. HPE said its strategy committee will also include independent board directors Gary Reiner, Raymond Lane and Charles Noski. It also said Calderoni and any Elliott employee director would be nominated to stand for election at HPE's 2026 annual shareholder meeting.
CNA
5 days ago
- Business
- CNA
HPE adds KLA chair to board in pact with activist investor Elliott
Hewlett Packard Enterprise has agreed to cooperate with activist investor Elliott Investment Management and added a veteran tech executive to its board as part of efforts to boost shareholder value following its Juniper Networks acquisition. Robert Calderoni, chairman of chip tools maker KLA, has joined HPE's board and will lead a new strategy committee formed under a cooperation agreement with Elliott that includes information-sharing, the company said on Wednesday. Elliott, which holds a stake of more than $1.5 billion in HPE, also has the right to appoint an employee to HPE's board under the agreement that lasts at least a year and prevents the hedge fund from launching proxy contests. The announcement is a win for Elliott, which manages about $72.7 billion in assets and has a long history of pushing for changes at companies including Southwest Airlines, Phillips 66 and Texas Instruments. Elliott has been pushing ahead with campaigns globally this year despite market volatility that led many peers to settle. It won two seats at oil refiner Phillips 66 in May in a high-profile proxy fight. Shares of HPE, which makes servers deployed in data centers for AI workloads, were little changed in morning trading on Wednesday. The stock has declined 5 per cent so far this year, underperforming AI server rivals such as Dell Technologies and the benchmark S&P 500 index. Demand has boomed for AI servers as big tech companies and startups race to roll out generative AI services such as ChatGPT that require huge amounts of computing power. But the business has been a drag on margins because of the high costs of advanced chips designed by the likes of Nvidia and Advanced Micro Devices. HPE said its strategy committee will also include independent board directors Gary Reiner, Raymond Lane and Charles Noski. It also said Calderoni and any Elliott employee director would be nominated to stand for election at HPE's 2026 annual shareholder meeting.
Reuters
5 days ago
- Business
- Reuters
Hewlett Packard signs cooperation deal with Elliott, adds tech veteran to board
July 16 (Reuters) - Hewlett Packard Enterprise (HPE.N), opens new tab has entered into a cooperation agreement with activist investor Elliott Investment Management, the server maker said on Wednesday. As part of the agreement, the company's board has named KLA Corp (KLAC.O), opens new tab Chairman Robert Calderoni as director. Elliott had built a stake of more than $1.5 billion in Hewlett Packard Enterprise, a person familiar with the matter had said in April.
CNA
5 days ago
- Business
- CNA
Hewlett Packard signs cooperation deal with Elliott, adds tech veteran to board
Hewlett Packard Enterprise has entered into a cooperation agreement with activist investor Elliott Investment Management, the server maker said on Wednesday. As part of the agreement, the company's board has named KLA Corp Chairman Robert Calderoni as director. Elliott had built a stake of more than $1.5 billion in Hewlett Packard Enterprise, a person familiar with the matter had said in April.
