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Trump, Not Earnings, Is Why Enrique Lores Walked Away From HP
Much has been said about the reasons behind HP CEO Enrique Lores’ departure. The common explanation points to flat earnings and declining printing demand. But those factors don’t tell the whole story. The real reason, plain and simple, is politics.
First, consider who Enrique Lores is and the position he held. As a Latino executive leading one of the world’s most prominent technology companies, Lores inevitably faced ethical and moral considerations that go beyond quarterly numbers. Under the Trump administration, ICE operations have intensified nationwide, with widespread reports of mass deportations disproportionately affecting Latino communities—including highly publicized cases involving young children. For a company like HP, which maintains substantial U.S. government contracts, the optics of being closely tied to that administration are deeply problematic. That association alone creates reputational risk no CEO can ignore.
Then there’s the HP–Juniper merger, which has become a growing ethical and legal quagmire. Reporting by Tonernews.com alleges serious ethics concerns surrounding the millions of dollars HP spent on Washington, D.C., lobbyists to push the deal forward. The merger remains in limbo, and the situation escalated recently when a California judge ordered communications between HP and its lobbyists to be disclosed. At that point, remaining CEO doesn’t just mean managing a business—it means owning potential ethical, legal, and reputational fallout. That’s not a position many executives would willingly stay in.
Adding to this is Trump’s proposed $400 million White House ballroom project, to which HP reportedly contributed millions and received naming recognition. Regardless of legality, the association further entangles HP—and by extension its CEO—in controversial political and ethical territory.
Yes, declining revenues and market pressures make for a convenient explanation. But the deeper truth is that the erosion of ethical boundaries surrounding Trump-era politics, business dealings, and government influence likely played a major role in Lores’ decision. Few executives want to stake their personal reputation and legal exposure on that kind of uncertainty. Enrique Lores chose to walk away—and given the circumstances, it’s not hard to see why.
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