hp logoAccording to a report from yesterday, it was rumored that HP could thinking about splitting their company into two. One half would be focused on consumer electronics like computers, while the other half would be focused at business hardware. Word had it that HP would be meeting financial analysts this Wednesday to discuss their options.

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Well it look like either the rumors were wrong or HP could have arrived a decision earlier than expected because a recently released press release has confirmed that HP will indeed be splitting into two separate companies. The consumer focused division that will focus on computers and printers will be known as HP Inc., while the business focused part of HP will be known as Hewlett-Packard Enterprise.

As per the rumors, HP’s CEO Meg Whitman will be heading up Hewlett-Packard Enterprise, while Dion Weisler will be getting a promotion and will be the president and chief executive of HP Inc. However Whitman will be the chairman of the HP Inc. board, meaning that she will still be retaining her influence over both parts of the company.

According to Whitman who explained the split, “By transitioning now from one HP to two new companies, created out of our successful turnaround efforts, we will be in an even better position to compete in the market, support our customers and partners, and deliver maximum value to our shareholders.”

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