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PALO ALTO & SAN JOSE — Enrique Lores, the long-time technology executive who rose through the ranks at HP Inc. to become its chief executive, is stepping down from the helm of the iconic Silicon Valley company — a move that caps a turbulent era for the hardware maker marked by stock underperformance and controversial corporate politics. (Investing.com)
The departure was announced on Feb. 3, 2026, when HP’s board named Bruce Broussard as interim CEO. Lores is leaving “to pursue another professional opportunity,” the company said, with no further detail provided on the timing for a permanent successor. (HP Investor Relations)
Political Engagement and Controversy
Lores’ tenure at HP in recent years intersected with broader debates over the role of corporate leaders in political influence. In 2025, HP was listed among major corporations that donated to a $300 million White House ballroom project initiated by President Donald Trump’s administration — a high-profile fundraising campaign that drew scrutiny from lawmakers and watchdog groups concerned about the potential for corporate influence in federal policymaking. (Reuters)
As part of that engagement, Lores participated in a White House roundtable focused on advancing AI education and innovation, reflecting the company’s efforts to align with federal priorities across administrations. (LinkedIn) While such participation is standard for many Fortune 500 CEOs, critics have cited HP’s inclusion on corporate donor lists in politically charged projects as emblematic of the blurred line between business advocacy and political influence. (Reuters)
HP’s political footprint has not been limited to this instance: the company also contributed to President Trump’s 2025 inauguration fund, alongside other major technology players, and has actively engaged with policymakers on trade and tariff issues affecting its supply chain. (Yahoo Finance)
Stock Performance: A Steep Slide
Throughout Lores’ leadership — he became CEO in 2019 — HP’s shares have struggled to regain sustained momentum. On the news of his departure for PayPal, HP’s stock fell roughly 6% on the day of the announcement. (Investing.com)
Over the past year, the stock has declined sharply, with some market trackers showing a drop on the order of 30%-plus through early 2026 — a performance that has lagged broader technology indices and raised questions about investor confidence in HP’s strategic direction. (Investing.com) Investors have pointed to a combination of sluggish growth in key hardware segments, pressure from rising component and tariff-related costs, and a mature PC and printing market as headwinds that have weighed on valuations.
HP’s financials tell a mixed story: while some revenue growth was logged in recent quarters and segments such as Personal Systems saw modest gains, overall earnings and profit outlooks have repeatedly fallen short of expectations, contributing to downward pressure on the share price. (Reddit)
Legacy and What Comes Next
Lores came to define an era of HP that sought to balance legacy hardware business lines with the need to pivot toward emerging technologies like AI-driven offerings. Despite occasional operational wins, Wall Street and corporate governance observers have noted that strategic execution has sometimes lagged the pace needed to excite investors — a challenge underscored by the market’s reaction to his departure. (Investing.com)
As HP begins its search for a new chief executive, the company faces the dual task of revitalizing growth while navigating the complex politics of corporate influence in Washington — where its past engagements under Lores’ leadership are likely to remain part of its broader public narrative. The next leader will inherit not just a technology giant seeking renewed momentum, but a brand shaped by the intersection of business performance and political engagement during a period of intense scrutiny.
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