EDS CEO to retire

EDS CEO Ronald Rittenmeyer will retire on December 31 this year, HP has confirmed.

Services giant HP announced the change on Friday, following its $13.9bn acquisition of EDS in August this year.

EDS will be folded into the HP's business technology unit and taking Rittenmeyer's place will be 46-year-old Joe Eazor, a current EDS senior vice president, who will report to Ann Livermore, head of the business technology unit.

HP announced plans in May and at the time, there was talk that EDS would operate a new business unit, which would be called EDS, and that it would continue to be led by Rittenmeyer.

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Rittenmeyer, who had reported to HP CEO Mark Hurd, joined EDS in 2005 and was named chairman and CEO in 2007. He played a key role in accelerating the company's transformation and subsequent integration within HP, Hurd said.

HP executives have said they bought EDS to expand HP's business beyond traditional computing and printers. HP has been trying to develop its software and services business over the last few years. EDS adds a service component that will help the company compete head-to-head with IBM.

In September, HP announced plans to cut 24,600 jobs over the next three years in the wake of its EDS purchase.

Original article: EDS Chief Executive Rittenmeyer to retire from CNET News.com