updated 1/14/2005 1:20:05 PM ET 2005-01-14T18:20:05

Hewlett Packard Co. reported Friday that it is combining its printer and personal computer groups to accelerate growth and strengthen its market position.

The company said it will combine its imaging and printing group with its personal systems group, and named Vyomesh Joshi, 50, to head the combined entity. Joshi, a 24-year Hewlett Packard veteran, has been executive vice president of the imaging and printing group for the last three years.

Hewlett Packard said Duane Zitzner, executive vice president of the personal systems group, retired from the company after 15 years of service. Zitzner, 57, will work with Joshi to ensure a smooth transition.

The company said the combined entity, which be known as the imaging and personal systems group, will not alter the way the company reports its financial results.

"The new IPSG organization will maximize efficiency, accelerate time to market and intensify competitive focus," the company said in a statement. "Combining the imaging and printing group and the personal systems group builds on the collaboration already established between the organizations."

The imaging and printing group included the company's printer, imaging and supplies business, along with projectors and digital cameras, and the personal systems group included desktop and notebook computers, handheld products, personal storage appliances and workstations.

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