HP Adds EDS to its Technology Solutions Group to Better Serve Business and Public Sector Customers

PALO ALTO, Calif.--(BUSINESS WIRE)--HP (NYSE:HPQ) today announced that Ron Rittenmeyer, president and chief executive officer of EDS, an HP company, will retire effective Dec. 31, 2008.

“With EDS, HP delivers to customers a broad spectrum of technology solutions that is simply unmatched by any other provider”

At the same time, EDS will become a business unit within HP’s Technology Solutions Group (TSG), providing customers with the industry’s broadest portfolio of information technology products and services. The newly combined TSG business group accounted for roughly $14.6 billion, or 43 percent, of the company’s total revenue in the fourth quarter of fiscal year 2008 and more than half of the company’s operating profit.

The new organizational structure will allow HP to sell and deliver more integrated solutions for its customers. In addition, this organizational change is expected to allow HP to continue to quickly realize its revenue growth and cost-efficiency goals for EDS.

Joe Eazor will assume the role of senior vice president of EDS with responsibility for the business unit’s operations, reporting directly to Ann Livermore, executive vice president of TSG. Rittenmeyer, who joined EDS in 2005 and was named chairman and CEO in 2007, played a key role in accelerating the company’s transformation and subsequent integration within HP.

“HP redefined the enterprise IT market with the acquisition of EDS. We are ahead of schedule with the integration of EDS, and combining TSG and EDS is the next step in that process,” said Mark Hurd, HP chairman and chief executive officer. “Ron’s insights were key to setting the foundation for integrating EDS’ world-class services capabilities with the market-leading portfolio of HP products and services. I thank Ron for his strong leadership during the integration process and wish him well in his retirement.”

“With EDS, HP delivers to customers a broad spectrum of technology solutions that is simply unmatched by any other provider,” said Livermore. “Our relentless focus on product and service leadership will ensure that HP becomes the first choice for customers, whether they choose to consume technology by implementing HP products, outsourcing it to us, or receiving it via the cloud.”

Eazor, 46, currently serves as senior vice president of Transformation. He led the EDS deal team through its acquisition by HP and the subsequent integration. Prior to the acquisition, Eazor was executive vice president of Corporate Strategy and Business Development at EDS. He also served as senior vice president of EDS Asia Pacific, with responsibility for more than 30,000 employees in the region including India, China, Japan, Korea, Southeast Asia, Australia and New Zealand.

About HP

HP, the world’s largest technology company, provides printing and personal computing products and IT services, software and solutions that simplify the technology experience for consumers and businesses. HP completed its acquisition of EDS on Aug. 26, 2008. More information about HP is available at http://www.hp.com/.

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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 the execution of integration plans; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results, including revenue growth and cost efficiencies; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2008 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, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2008 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.