HP (HPQ) announced on November 4, 2026 that its board of directors unanimously appointed Emma Walmsley as CEO, effective January 4, 2027. She replaces Bruce Broussard, interim CEO since February 2026. Walmsley was CEO of GSK from April 2017 to December 2025 and has served on Microsoft's board for seven years.
On the same date, Broussard will become chair of the board of directors, replacing Chip Bergh. Bergh has chaired the board since 2017 and has been a director since 2015. He will remain in the role until January 4, 2027 and will continue as a board member afterward. Walmsley will also join the board, which will have its number of seats expanded from 12 to 13 through a bylaw amendment.
According to the filing, HP entered into an offer letter with Walmsley with an annual base salary of US$ 1,450,000 and an annual target bonus of 200% of base salary. For fiscal year 2027, she will receive restricted stock units with a grant value of US$ 6.45 million and performance-based restricted stock units with a target value of US$ 15.05 million. There will also be a one-time equity grant of US$ 30 million, consisting of US$ 15 million in restricted stock units and US$ 15 million in performance-based units.
The package includes a sign-on bonus of US$ 2.5 million, subject to pro rata repayment in case of voluntary departure or termination for misconduct before 12 months, and a relocation allowance of up to US$ 2.5 million in the first year.
Walmsley said HP will focus on "harnessing the power of the AI era" to generate new sources of growth. Broussard said she is a "proven CEO" with a track record of leading large organizations through periods of change.
