Overview

• Elliott secures the right to appoint one member to HPE’s board immediately and may add a second seat if performance targets aren’t met
• KLA chair Bob Calderoni has joined HPE’s board to chair the newly formed strategy committee assessing business unit strategies
• An information-sharing agreement grants Elliott ongoing access to HPE’s plans to identify additional opportunities for value creation
• The deal preserves options for leadership changes, potential asset divestitures or structural shifts if HPE’s stock fails to improve over the next year
• HPE enters the governance pact on the heels of a stronger-than-expected Q2 earnings report and closing its Juniper Networks acquisition, despite a stock decline of over 5% year-to-date