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M&A whizzkid Haas leaves HP Networking

Alex Scroxton

Marius Haas, senior vice president and worldwide general manager of HP Networking and the driving force behind Hewlett-Packard's acquisitions of EDS and 3Com is among a swathe of executives on the way out as CEO Leo Apotheker shakes up the firm.

Haas was handed control of HP's Networking business - then known as HP ProCurve - in 2008 and although HP never explicitly said his brief was to bulk up the unit through acquisitions, its subsequent purchase of 3Com has put the unit in a position to mount a serious challenge to struggling rival Cisco.

Haas is making a move into the world of private equity, taking up a position with Kohlberg Kravis Roberts & Co (KKR), where he will advise on the technology sector.

KKR's technology holdings include a stake in Hemel Hempstead-based outsourcer Northgate, and there is little doubt that Haas will be briefed with enhancing the portfolio.

"I look forward to serving as a resource to the firm and its portfolio companies and helping build on its success in this sector to date," said Haas.

Meanwhile, HP SVPs Tom Iannotti and Gary Budzinski, who headed up enterprise services and technology services, are also leaving, according to sources close to the situation, with Ann Livermore and Dave Donatelli taking up the respective reins.

Their exits come barely a week after HP posted downbeat second quarter financial results and forecast another challenging period ahead.

 


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