HP Reshuffles Printing Leadership

NEW YORK ( TheStreet) -- HP ( HPQ) shuffled the leadership of its key Printing and Personal Systems group (PPS), the No. 1 PC maker announced on Tuesday.

Todd Bradley will step out of his role as executive vice president, PPS, and become executive vice president of Strategic Growth Initiatives, a newly created position. Bradley will work directly with CEO Meg Whitman on enhancing HP's Chinese business, and extending its channel partnerships around the world, according to a company statement.

Dion Weisler, who is currently senior vice president for HP's PPS business in Asia-Pacific and Japan, will assume Bradley's former role. Weisler will report directly to Whitman and join the firm's executive council.

HP also appointed Nick Lazaridis to lead its PPS operation in Asia Pacific and Japan on an acting basis until a permanent replacement is named.

Whitman has recently earned plaudits for her efforts to turn around the tech giant, specifically her transformation of the company's balance sheet.

In an interview with CNBC's Becky Quick last week, Whitman said that HP is "just a bit ahead of where we thought we would be." The CEO is 18 months into an ambitious five-year effort to revitalize HP.

HP comfortably beat Wall Street's estimates in its second quarter results last month, boosted by better-than-expected performance in Enterprise Services and Printing, as well as savings from restructuring and improved operations.

During the second quarter, however, revenue from HP's Personal Systems Group declined 20% from the prior year's quarter, underlining the challenges posed by PC market.

Shares of HP, which have gained more than 18% over the last month, rose 0.62% to $25.32 shortly after market open on Tuesday.

--Written by James Rogers in New York.

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