HP today announced that it has completed its evaluation of strategic alternatives for its Personal Systems Group (PSG) and has decided the unit will remain part of the company.
That’s weird. I think Nexflix just tried to spin off one of their core business as well. Interestingly enough, they realized it wasn’t good for their customers, didn’t really make sense, and eventually back-peddled as well. My translation of the press release is in quotes.
“We hired, supported, and approved the plans of our former CEO, Léo Apotheker, but after allowing someone with a sound mind to evaluate our business strategy, we realized we were just being stupid.”
Finally, it also showed that the cost to recreate these in a standalone company outweighed any benefits of separation.
“We really have no idea what we’re doing.”
HP Board of Directors
Update: According to The Next Web, Whitman was quoted during an internal HP employee meeting saying:
“In all honesty right now we don’t know what kind of company HP is. We’re still figuring that out.”
I rest my case.