HP has announced that Bill Veghte is the company's new Chief Operating Officer (COO). George Kadifa will take over Veghte's previous role of Executive VP of Software. Both moves are effective immediately.

As COO, Veghte will continue to oversee HP's strategy by working to "drive innovation and customer satisfaction." Veghte will work closely with HP's President and CEO Meg Whitman, and his peers on the company's executive council to support key projects that affect HP's working success.

Kadifa will report to Whitman, HP and will join the HP executive council and lead the company's IT Performance Suite software portfolio.

Kadifa recently worked at Silver Lake, a global technology investment firm, where he served as operating partner for the Value Creation Tea and was responsible for driving operational improvement and growth in several enterprises. Prior to that, he held executive positions at IBM and Corio.

Last week, HP unveiled plans to lay off 27,000 employees, eight per cent of the company's workforce, by the end of the 2014 fiscal year.

In Photo: Bill Veghte, Chief Operating Officer, HP

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