Hewlett-Packard Co's new chief executive, Leo Apotheker, is reportedly finalizing a strategic plan for the technology company that includes shuffling senior management and focusing on more profitable parts of the business, The Wall Street Journal reported late Friday.

The changes will include investing more in H-P's software, networking and storage businesses, the report said, citing unnamed sources. These businesses are considered more profitable than the company's personal computer and server businesses, the report added.

In addition, the strategic plan will provide new duties for H-P veterans, including Ann Livermore, who heads up the company's $57 billion enterprise business, as well as newer managers such as executive vice presidents David Donatelli and Tom Hogan, The Wall Street Journal said.

There could also be a departure of some executives, including chief information officer Randy Mott, the report said.

Apotheker is reportedly working with members of H-P's board to draw up the plan and is therefore subject to change, the report said. The plan could be made public in the March time frame to coincide with H-P's annual shareholders meeting, the report said.

An H-P spokesperson was not immediately available for comment.

(Reporting by Nadia Damouni and Ritsuko Ando; editing by Andre Grenon)