HPE’s stock was down 0.32% on Wednesday, and has lost 5.75% year-to-date. The S&P 500, by contrast, is up 6% over the same period.
“We value the input of all of our shareholders and we have found the interactions with Elliott to be constructive and collaborative,” HPE said in a statement to Fortune.
The changes came after Elliott took a $1.5 billion stake in HPE in April and then approached the company, largely to complain about the stock’s underperformance over the years.
Neri was not quoted in HPE’s press release.
Notably, statements from both Elliott and HPE mentioned “value creation” and “increasing value,” respectively. That is likely a hint that Elliott’s next move will hinge on whether Neri can make HPE stock go up. He has one year to do it—Elliott has the right to add another board member if it is still unhappy by that deadline.
