News release

HP Names Pete Bocian as Executive Vice President and Chief Administrative Officer

HP today announced that it has appointed Pete Bocian to serve as executive vice president and chief administrative officer.

He will oversee the company’s shared and administrative services, which includes real estate and workplace services, indirect and services procurement, and HP Financial Services, the company’s financing arm.

Bocian will replace Jon Flaxman, who has decided to step down from his role due to personal and health reasons. Flaxman, 51, will remain with HP to work on executive assignments.

Bocian, 54, comes to HP from Starbucks Coffee Company, where he has served since 2007 as executive vice president, chief financial officer and chief administrative officer managing the company’s finance, supply chain and information technology functions. Previously, he spent 24 years at NCR Corporation, where he served for three years as NCR’s senior vice president and chief financial officer after leading the finance organizations of several of the company’s divisions, including the Teradata and Retail Solutions divisions.

Bocian will join HP as a member of its executive council on Dec. 1, 2008, reporting to Mark Hurd, HP chairman and chief executive officer.

“Pete has an outstanding track record of driving operational efficiencies for large, complex organizations,” said Hurd. “HP’s long-standing strategy of taking a disciplined approach to managing costs in order to invest in the company’s growth remains a top priority. Pete will be a key leader in further enhancing our operational excellence.”

“I respect and support Jon’s personal decision to step down as chief administrative officer,” continued Hurd. “Throughout his long career at HP, Jon has made significant contributions to the organization. I look forward to his ongoing service at HP.”

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© 2008 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.