In brief: Dion Weisler joined HP in 2012 and has been at the helm of HP Inc., the arm that focuses on consumer PCs and printing, ever since Hewlett-Packard split into two in November 2015.

HP Inc. on Thursday announced that Dion Weisler will step down as president and CEO due to a family health matter that'll see him return home to Australia. No further details were provided on the health issue at hand.

Weisler thanked the entire team at HP, adding that his time as CEO has been the highlight of his career. "I'm incredibly proud of what we have achieved and equally confident in where we are heading as a company," he said.

Effective November 1, Enrique Lores will take over for Weisler. Lores currently serves as president of HP's imaging, printing and solutions business which had revenues of over $20 billion in fiscal 2018. He has been with the company for three decades, getting his start as an engineering intern and working his way up the corporate ladder over the years.

"The opportunities ahead are vast and the need for us to keep reinventing is more important than ever," Lores said.

Weisler will remain with the company through January 2020 to ensure a seamless transition.

HP Inc.'s stock is down more than six percent in after-hours trading on the news, highlighting the value of Weisler's leadership.

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