Michael J. Holston to Leave HP

Marketwired

PALO ALTO, CA--(Marketwire -12/12/11)- HP (NYSE: HPQ - News) today announced that Michael J. Holston, executive vice president and general counsel, will leave the company to pursue other opportunities.

Prior to his joining HP, Holston supported the company as external counsel for more than 10 years on a variety of litigation and regulatory matters.

"Mike has been an exceptional leader at HP and a great contributor to the company's mission," said Meg Whitman, HP president and chief executive officer. "The entire company wishes him well in his future endeavors."

HP also announced that David W. Healy, partner and co-chair, Mergers & Acquisition Group, Fenwick & West LLP, will act as HP's general counsel on an interim basis. Healy represented HP on its recent acquisition of Vertica and its agreement to sell its Video Collaboration business unit to Polycom. Healy will oversee all legal activities during the interim period.

The company further announced that a formal search is underway for a replacement. Candidates from both inside and outside the company will be considered.

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This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations, including execution of growth strategies, transformation initiatives and restructuring plans; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP's businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; expectations and assumptions relating to the execution and timing of growth strategies, transformation initiatives and restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2011 and HP's other filings with the Securities and Exchange Commission, including but not limited to HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2011 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.

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