Hans-Ulrich Holdenried, the head of Hewlett-Packard’s German subsidiary, has announced that he will retire at the end of the financial year 2007/08 on October 31st. 57-year-old Holdenried intends to devote his time to private interests and other tasks. So far a successor has not been named.

Since joining HP in 1976, Holdenried held several different management positions, before taking over as Managing Director of HP Germany in 2004. In the last financial year HP Germany increased its turnover by ten per cent to 6.5 billion euros.