(Bloomberg) -- Bill Veghte, who had been helping to lead the separation of Hewlett-Packard Co.’s business-services unit, is leaving the company.

Chris Hsu, who will become chief operating officer of the new Hewlett Packard Enterprise, will continue to lead the separation efforts, HP said in a statement Tuesday.

The announcement came as the Palo Alto, California-based bellwether prepares to become two publicly traded entities on Nov. 1. Hewlett-Packard has been dogged by challenges to its businesses from the rise of cloud computing to the arrival of new software companies.

Antonio Neri, who has been serving as leader of the Enterprise Group, will be executive vice president and general manager, according to the statement.

Veghte, 48, joined the company in 2010 and served as chief strategy officer before becoming COO in 2012. He will leave this summer.

Chief Executive Officer Meg Whitman will remain in that post at HP Enterprise, which will sell hardware and consulting services to corporate clients. She will serve as chairman of HP Inc., which will take the personal-computer and printer business.

Hewlett-Packard’s shares fell 1.2 percent to $29.61 at 11:09 a.m. in New York. The stock was down 25 percent this year through Monday.

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