Board to Appoint Technology Executive Robert Calderoni and Form New Strategy Committee to Identify Opportunities for Value Creation
Enters into Cooperation Agreement with Elliott Investment Management
HPE announced several enhancements to support HPE’s ongoing transformation, including the formation of a new Strategy Committee of the Board and the appointment of Robert (Bob) Calderoni, a veteran technology executive and current Chairman of KLA Corp., as a director effective July 16, 2025. These enhancements were made as part of the Board’s continued efforts to drive shareholder value, and in connection with a cooperation agreement with Elliott Investment Management L.P. (Elliott).
The newly formed Strategy Committee will assess the strategies of HPE’s businesses and identify opportunities for additional value creation. Calderoni will chair the Strategy Committee, and it will also include Gary Reiner, Raymond Lane, and Charles Noski. In addition to chairing the Strategy Committee, Calderoni will join as a member of HPE’s Integration Committee, which was formed by the HPE Board following the closing of the Juniper transaction.
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Pat Russo, Chair of the HPE Board, said, “We are pleased to welcome Bob to our Board. His perspectives and experiences will complement those of our existing directors, and I look forward to collaborating closely with him as we work together to drive increasing value for our shareholders. HPE has an exciting opportunity ahead given the recent close of the Juniper Networks acquisition, and Bob has directly relevant experience that will be invaluable to us. The Board is focused on providing management with the support and engagement necessary to successfully integrate this acquisition, which will strengthen HPE’s value to both customers and shareholders.”
Calderoni said, “HPE is one of the most storied technology companies in the world, and I am excited to join its Board. I look forward to leveraging my networking, infrastructure and software experience as I work closely with current Board members and the management team to explore options for value creation. Having overseen major technology company transformations before, I understand the urgency and am energized by the magnitude of the opportunity ahead.”
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Jason Genrich, Elliott Partner and Senior Portfolio Manager, said, “We appreciate the positive dialogue we have had with HPE’s Board and see substantial value ahead. We believe Bob’s appointment to the Board and his leadership of the new Strategy Committee will help HPE identify meaningful operational and strategic opportunities for shareholder value creation. We are pleased with today’s outcome and look forward to continuing our collaboration with the Board and the management team to support HPE’s ongoing transformation.”
In addition to Calderoni’s appointment and the formation of the new Strategy Committee, HPE’s cooperation agreement with Elliott includes an information-sharing agreement that will allow for an ongoing dialogue between Elliott and HPE, as well as the customary standstill, voting, and other provisions. The agreement also gives Elliott the ability to appoint an Elliott representative to the Board at any point up until the expiration of the standstill, as detailed in HPE’s Form 8-K filing.
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