HP Innovation Journal Issue 15: Summer 2020 | Page 3

LETTER FROM OUR CEO “BILL HEWLETT AND DAVE PACKARD FAMOUSLY SAID, ‘THE BIGGEST COMPETITIVE ADVANTAGE IS TO DO THE RIGHT THING AT THE WORST TIME.’” Enrique Lores / President and CEO PHOTOGRAPH BY JOE PUGLIESE I HOPE YOU AND YOUR LOVED ones are well during these difficult days. Since we published the previous issue of Innovation, the world has changed in profound ways. The COVID-19 pandemic has upended everything from the global economy to how we live, work, and connect with one another. The virus has also laid bare the systemic racism and deep inequalities—from healthcare to education to economic opportunity—that have plagued society for too long. And the deaths of George Floyd, Breonna Taylor, and Ahmaud Arbery have been a stark reminder of how much progress must still be made toward treating everyone with the fairness, dignity, and humanity they deserve. We must use times like these as a catalyst for change—both in terms of the technology we create for our customers, as well as the impact we make within our communities. Bill Hewlett and Dave Packard famously said, “The biggest competitive advantage is to do the right thing at the worst time.” Those words have never had greater meaning than they do today—and they reflect the core values that will continue to guide our company forward. After all, out of great trials come new possibilities. While there is a lot of hard work ahead, there has never been a more important time for all of us to imagine the future we want to create together. In this issue, leaders across HP have shared their perspectives on what’s next for our company, our industry, and the world we share. Because while we all face near-term challenges, there are also tremendous opportunities to innovate and reinvent. Within our industry, the pace of change is going to accelerate, business models will continue to evolve, and technology will enable entirely new experiences in both our personal and professional lives. For example, many of you are likely working—and reading this— from home. And this trend will continue as businesses embrace greater workforce mobility and rethink their real estate strategies. Companies like ours, whose technology empowers people to securely connect, create, and collaborate from anywhere in the world, are well positioned to enable the office of the future. The same is true when it comes to the classroom. I’ve watched my own son adapt to a world of online learning, and the role of technology in education will continue to grow. We can supplement traditional classroom learning in ways that inspire and empower the next generation, while also bridging the digital divide in communities that lack access to the technology others take for granted. We can also enhance the value propositions we deliver to our customers. One example is the rise of contractual and subscription-based business models. This was a key part of our strategy prior to COVID-19, and its importance will only increase. Whether it’s Instant Ink delivering cartridges to our customers’ doorsteps or IT departments shifting to Device as a Service, we have a wide range of opportunities to advance our leadership in both Printing and Personal Systems. And we have opportunities to disrupt industries by driving analog to digital transformation. There’s no greater example than 3D printing, which enables faster and more localized production than traditional manufacturing. As companies focus on building more flexible, resilient supply chains, this creates a huge opportunity to shape the future of industry. But it’s not just technology that’s changing. So, too, is the role of companies in society. We all need to be thinking about what it truly means for a company to act with purpose and in the best interests of all our stakeholders. I believe every company is a platform, and we must always use it to make a positive impact on people, the planet, and communities around the world. The road ahead won’t be easy. But I also know this: No matter what challenges we face, we will rise to the moment and create a stronger company along the way. Our ability to reinvent ourselves and reimagine what’s possible for our customers, partners, and communities has always been HP’s greatest strength, and I believe in our capacity to do it once again. Saludos, INNOVATION/ SUMMER 2020 1