Breaking up is hard to do! Lessons Learned from Separating Contracts in the Largest Tech Split in History

Todd Sulger, Vice President and Associate General Counsel, HP Inc
Peggy Barber, Vice President & Associate General Counsel, Hewlett Packard Enterprise Company

In recent years, a number of large companies have undertaken corporate separations as a way to unlock shareholder value, increase focus, accelerate growth, and reduce operational complexity. On October 6, 2014, Hewlett-Packard Company announced its plans to do just that - separate into two new publicly traded companies: Hewlett Packard Enterprise, which would comprise HP’s enterprise technology infrastructure, software and services businesses, and HP Inc., which would comprise HP’s personal systems and printing businesses. This transaction remains the largest technology company separation in history and was completed in 391 days, no small accomplishment for a US-based company with subsidiaries in over 110 countries!

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USA Contract IT October 2016 Vol.10, No. 37, Autumn 2016

Todd Sulger


Todd A. Sulger is Vice President and Associate General Counsel for the Americas Region and US/Canada Commercial and Public Sector Sales at HP Inc. He and his team provide legal support for the Americas go-to-market and sales teams, as well as provide general legal support for HP Inc.’s corporate entities located in Canada and the Latin America region. Todd joined Hewlett-Packard Company, the predecessor to HP Inc., in 2005. While at Hewlett-Packard Company, Todd held a number of leadership roles supporting the company’s software, LaserJet printing and business PC groups. He also served as the lead commercial attorney in a number of strategic acquisitions and divestitures. In 2015, he was the lead commercial attorney for HP Inc. in the split of Hewlett-Packard Company. Before joining Hewlett-Packard Company, Todd was senior counsel for Peregrine Systems, Inc. and worked in regulatory compliance at Sempra Energy. He holds a J.D. from California Western School of Law and a BBA in Marketing from the University of Wisconsin – Milwaukee.

Peggy Barber


Peggy Chang Barber is Vice President and Associate General Counsel for Global and North America Commercial Sales at Hewlett Packard Enterprise (HPE). In this role, she and her team provide legal support for a wide range of sales and go-to-market clients and transactions involving the Enterprise Group, HPE’s largest business unit. Peggy joined HPE in 1999 through its predecessor, Hewlett-Packard Company, and has held leadership roles supporting all business groups and regions, including a rotation as Asia Pacific Region Counsel for the services businesses. She has also served as the lead commercial attorney in a number of corporate transactions, including the split of Hewlett-Packard Company in 2015 where she served as lead commercial attorney for HPE. Peggy is currently the lead integration attorney for HPE’s acquisition of Aruba Networks, in addition to co-leading contract separation for the spin-merger of HPE’s Enterprise Services group with CSC. Before joining HPE, Peggy was a commercial real estate attorney at Rudnick & Wolfe (now part of DLA Piper) in Washington, D.C. She holds a J.D., MBA, BBA in Finance, and BA in Mathematics from The University of Texas at Austin.

HP Inc


HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze.

USA Contract IT October 2016 Vol.10, No. 37, Autumn 2016

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