HP announces post-split boards

A general view of Hewlett-Packard during the 2015 Sundance Film Festival on January 26, 2015 in Park City, Utah.
Amanda Edwards | Getty Images

Hewlett-Packard announced new board members Wednesday as the technology concern looks to separate into two companies with more favorable cost structures, Hewlett Packard Enterprise and HP Inc.

Pat Russo, currently lead independent director at HP, will chair the board of Hewlett Packard Enterprise, a new company that will include HP's current traditional IT services and enterprise cloud computing, HP said. Meg Whitman, currently CEO of HP, will chair the board of directors of HP Inc., which will include HP's printing and 3-D-printing operations.

Hewlett Packard Enterprise's board will also include Silicon Valley venture capitalist ; General Motors President Dan Ammann; Michael Angelakis of Comcast; Leslie Brun, CEO of Sarr Group; Pamela Carter, former president of Cummins Distribution; Klaus Kleinfeld, CEO of Alcoa; Raymond Lane, former partner at Kleiner Perkins Caufield & Byers; former HP executive Ann Livermore; Raymond Ozzie, CEO of Talko; Gary Reiner, operating partner at General Atlantic; and Lip-Bu Tan, chairman of Walden International and CEO of Cadence Design Systems.

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The board of HP Inc. will include Shumeet Banerji, founder of Condorcet and former CEO of Booz & Co.; Carl Bass, president and CEO of Autodesk; Robert Bennett, managing director of Hilltop Investments and former CEO of Liberty Media; Chip Bergh, CEO of Levi Strauss; Stacy Brown-Philpot, COO of TaskRabbit; Stephanie Burns, former CEO of Dow Corning; Mary Anne Citrino, senior advisor at Blackstone; Rajiv Gupta, former chairman and CEO of Rohm and Haas; Stacey Mobley, former CAO at DuPont; Subra Suresh, president of Carnegie Mellon University; and Dion Weisler, currently executive vice president at HP.

Whitman will serve on both boards. Current board member James Skinner resigned due to the increased workload in his leadership of Walgreens Boots Alliance, the company said.

HP's split comes as the company tries to become more nimble to keep up with the fast pace of the market, Whitman told CNBC's "Squawk on the Street" in May. The separation of the Palo Alto, California-based company will have $1 billion in synergies and $400 million in dis-synergies, according to HP estimates.

Two HPs better than one: Meg Whitman

Antonio Neri, senior vice president and general manager at HP Enterprise Group, said in June on CNBC's "Squawk Box" the split would become official by Nov. 1. Both boards have an emphasis on global experience, HP leadership said in the statement Wednesday.

"The chance to take in the skills of new board members is a great benefit of the separation," said Weisler, who will lead HP Inc. after the separation.

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