HP Inc. Appoints Emma Walmsley as Chief Executive Officer

Executive Summary

On November 4, 2026, HP Inc. (NYSE: HPQ) filed an 8-K disclosing that its Board of Directors has appointed Emma Walmsley as Chief Executive Officer, effective January 4, 2027.

Key Leadership & Governance Changes

• Chief Executive Officer Appointment: Emma Walmsley (age 57), former CEO of GSK plc (2017–2025) and current Microsoft director, will succeed Interim CEO Bruce Broussard on January 4, 2027.
• Board Chair Transition: Bruce Broussard will step down as Interim CEO at the end of January 3, 2027, and become Chair of the Board on January 4, 2027. Chip Bergh, current Chair, will step down from the Chair role but remain a director.
• Board Expansion: The Board amended HP's Bylaws to increase the number of authorized directorships from 12 to 13 to seat Ms. Walmsley as a director upon her start date.

Compensation Package

Pursuant to her Offer Letter and Signing Bonus Agreement entered into on November 3, 2026, Ms. Walmsley's compensation includes:

• Base Salary: $1,450,000 annualized.
• Annual Target Bonus: 200% of base salary ($2,900,000 target), prorated for FY2027.
• Sign-On Cash Bonus: $2,500,000 (subject to pro-rata clawback if she voluntarily leaves or is terminated for misconduct within 12 months).
• FY2027 Long-Term Incentive Grants:
  • Time-vesting Restricted Stock Units (RSUs) with a grant date value of $6,450,000.
  • Performance-adjusted Restricted Stock Units (PARSUs) with a target value of $15,050,000.
• One-Time Inducement Equity Award: $30,000,000 aggregate grant date value ($15,000,000 in RSUs and $15,000,000 in target PARSUs), granted pursuant to NYSE Rule 303A.08.
• Relocation Benefits: Up to $2,500,000 for eligible relocation expenses in her first 12 months.
• Severance Participation: Participation in HP's Severance and Long-Term Incentive Change in Control Plan for Executive Officers (SPEO).

Market & Strategic Impact

Attracting Emma Walmsley represents a major executive hire for HP. Walmsley led GSK through a significant corporate transformation and spinoff during her eight-year tenure as CEO. Her appointment signals HP's commitment to senior operational leadership and strategic repositioning.