Just hours after rumors emerged of private equity firms circling Hewlett-Packard Enterprise Co. (HPE), the tech giant has announced the departure of three key executives, including the heads of its cloud and storage businesses.

Bill Hilf, whose official title was senior vice president and general manager of HP Cloud, is stepping aside to “pursue other opportunities,” the company said as it announced a major organizational reshuffle of its businesses and leadership team.

Hilf will be joined in his departure by two other top execs: Manish Goel, who was in charge of HPE’s storage business only since March of last year before HP split into two companies, and Robert Vrij, managing director of sales for the Americas. The latter two execs will be replaced by Bill Philbin and Phil Davis, respectively.

The reshuffle comes just one month after Martin Fink, chief technology officer and head of HP Labs, announced plans to retire at the end of the year.

The changes are just the latest in a series of strategic shifts at HPE as it struggles to create a viable cloud business to compensate for its declining hardware sales. The company was forced to pull the plug on its Helion public cloud services at the beginning of this year after realizing it would never be able to compete with giants like Amazon Web Services (AWS) and Microsoft Azure. Instead, HPE said its plan was to focus on selling private and managed cloud services to enterprises instead.

With Hilf now out the picture, HPE has cut all ties with its previous strategy that focused on public cloud, in favor of a new approach that will see the company work to build partnerships such as the one it recently announced with Computer Sciences Corp. (CSC). HPE’s overriding goal now is to partner with others in order to diversify into all aspects of IT, be it equipment and services on-premises or off-premises, public, private, hybrid, as-a-service, and of course, hardware, as HPE COO Chris Hsu revealed at HPE Discover during an interview on theCUBE earlier this summer.

“Every company — especially large enterprises — is trying to figure out how much of the traditional data center do I want to maintain,” Hsu said. “How much private cloud do I need in my infrastructure and in my IT organization? And then how much is public cloud?”

Clearly, HPE is trying to position itself as the company with the answers to those questions. The company is framing today’s changes as a continuation of a strategic realignment that also includes a major reorganization of its cloud businesses.

As of today, HPE’s Helion OpenStack (HOS) and Helion CloudSystem teams will switch to the company’s enterprise group, falling under a newly created Software-Defined & Cloud Group (SDCG) to be led by Ric Lewis. Mark Interrante, who had been a senior VP of engineering for the cloud group, will lead those teams under Lewis.

“By bringing these assets together, we create a single organization tasked with a common mission – to provide best-in-class solutions that enable developers and operators to deploy their applications across traditional and cloud infrastructures, simply and effortlessly,” Antonio Neri, executive vice president and general manager of HPE’s enterprise group, said in a statement.