March 21, 2012 01:01 pm EDT

HP's imaging printing group combines with PC group, Printing and Personal Systems Group emerges

Rumor had it, and rumor was right. This morning, HP officially announced an organizational realignment that's set to "improve performance and drive profitable growth across the entire HP portfolio." Corporate speak, sure, but what's happening is that the Imaging and Printing Group (IPG) and Personal Systems Group (PSG) are joining forces to create the Printing and Personal Systems Group. The newly merged entity will be headed up by one Todd Bradley, who has served as the executive VP of PSG since '05. Vyomesh Joshi, executive VP of IPG, seems to be getting the better end of the deal, cashing in his "retirement" card after 31 years at the company. In related news, HP's Global Accounts Sales organization will join the newly named HP Enterprise Group, and it will "unify its Marketing functions across business units under Marty Homlish, executive vice president and chief marketing officer." Lastly, the company is sliding its Global Real Estate function from Finance into Global Technology and Business Processes, which is bound to befuddle precisely no one. For the full chair rearrangement, head on past the break.

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