HP’s IPG and PSG Merge; IPG's Joshi to Retire

HP announced an organizational realignment, which will merge its Imaging and Printing Group (IPG) and its Personal Systems Group (PSG) into one group deemed the Printing and Personal Systems Group. Todd Bradley, who has served as the executive vice president of PSG since 2005, will lead the combined entity. Vyomesh Joshi, executive vice president of IPG, is retiring after a highly accomplished 31-year career at HP. Under Joshi’s leadership, IPG has grown revenue from $19 billion to $26 billion and doubled its operating profit to approximately $4 billion. During HP’s 2012 Annual Meeting of Stockholders, which was held March 21, the decision to combine the entities was discussed, with Meg Whitman, HP’s president and chief executive officer, commenting that the merger of IPG and PSG will make HP a “more powerful force.” However, Joshi’s retirement was not acknowledged.

Toshiba America Business Solutions Promotes Mark Mathews to President, CEO

Toshiba America Business Solutions, Inc. announced the promotion of Mark Mathews as the company’s new president and chief executive officer, effective April 1. Mathews, who currently serves as president and chief operating officer, will replace Matt Yamada, who was named chairman and chief executive officer in 2009. In his new role, Mathews will continue overseeing the strategic direction and operations of the company's Electronic Imaging Division (EID) and Toshiba Business Solutions, a wholly owned subsidiary corporation of Toshiba America Business Solutions that owns and operates a network of office equipment dealers throughout the United States and Latin America.

Memjet Investor Sues Silverbrook

On March 5, 2012, the George Kaiser Family Foundation (GKFF) filed suit against Silverbrook Research, Kia Silverbrook and his common-law wife, Janette Faye Lee, for allegedly inducing GKFF to invest in the Memjet companies based on “omissions, false representations and false promises the Defendants had no intention of keeping.” Since 2003, GKFF has invested in excess of $610 million in the Memjet companies. It was also alleged that Silverbrook and Lee are threatening to take the patents and intellectual property protecting Memjet’s revolutionary printing technology to sell to third parties.

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