(Telecompaper) HP has confirmed it will separate the company, saying Hewlett-Packard Enterprise will define the next generation of technology infrastructure, software and services for the New Style of IT while HP Inc will be the leading personal systems and printing company, keeping the current company logo. Meg Whitman will be the president and CEO of Hewlett-Packard Enterprise while Pat Russo will become the chairman of the Hewlett-Packard Enterprise Board. HP Inc will be led by Dion Weisler, with Meg Whitman as chairman. HP said the move will give each company focus, financial resources and flexibility to adapt quickly to market and customer dynamics while generating long-term value for shareholders. The transaction is expected to complete by the end of fiscal 2015. HP shareholders will own shares of both Hewlett-Packard Enterprise and HP Inc. Both companies will be well capitalised. According to Reuters, HP will eliminate another 5,000 jobs as part of its turnaround plan. Meanwhile, HP reiterated its guidance for fiscal 2014 of non-GAAP diluted net earnings per share of USD 3.70-3.74 and updated its diluted net EPS outlook to USD 2.60-2.64. For fiscal 2015, non-GAAP diluted net EPS will be at USD 3.83-4.03 and net EPS at USD 3.23-3.43.