Autonomy, Not So Autonomous Anymore: HP CSO Bill Veghte Steps In, Founder Mike Lynch Steps Down

Within HP's quarterly results today, a bit of a development for Autonomy, the company's $10.2 billion enterprise software purchase from last year that was profitable when HP bought it but in the last quarter saw "significant" declines in its core licensing revenue: its founder and head Mike Lynch is stepping down, and he is getting replaced by a HP man: chief strategy officer and EVP of enterprise software Bill Veghte. HP says in its Q2 earnings release that this is being done to help improve Autonomy's performance. In an internal memo to employees, which TechCrunch has obtained, CEO Meg Whitman says that the move is being made to as a mark of how HP is "investing to speed development across Security, Information and Management Infrastructure for both on-premise IT and in the cloud ? with a key focus on software-as-a-service offerings." The same strategy will be applied to the company's Vertica business, Whitman noted in the memo.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/VUCgQP4sMBw/

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