By Allen Tsai | Sat Aug 07, 2010 12:29 am |
Hewlett-Packard chief executive Mark Hurd today unexpectedly resigned in the wake of a sexual harassment investigation that found he had a "close personal relationship" with a former contractor who received improper payments.
"I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP," Hurd said.
The Palo Alto, Calif.-based company said the probe began shortly after one of its former contractors, involved in marketing services, disclosed that she had had a close personal relationship with Hurd, who is 53 and married.
The investigation found no violation of its sexual harassment policy, but did find "violations of HP's standards of business conduct." Over a two year stretch, Hurd had filed "numerous" inaccurate expense reports that compensated or reimbursed the woman for around $20,000.
Hurd, who took over HP in 2005 and lead the company's turnaround, will receive a severance package of $12.2 million.
The company said Chief Financial Officer Cathie Lesjak will replace Hurd as interim CEO, as the company looks for candidates for the position.
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Thu Jan 26, 2012 12:07 pm | By
Hewlett-Packard announced it will release parts of its WebOS to the open-source community over the next several months to sidestep potential patent problems and boost its competitive chances against Android.
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Tue Jan 17, 2012 1:02 pm | By
Hewlett-Packard has lifted the curtain on the VantagePoint, a 132-inch multi-touch wall, as the company features innovations likely to find their way into consumer devices.
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Wed Jan 04, 2012 2:00 pm | By
Hewlett-Packard's WebOS is making unexpected inroads in healthcare as medical researchers develop applications for the newly open-source platform.
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Mon Jan 02, 2012 11:51 am | By
Hewlett-Packard is moving forward with changes to its WebOS software, as the struggling company bets on mobile technology to fuel its turnaround.
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Mon Dec 12, 2011 2:10 pm | By
Hewlett-Packard slashed the price of its TouchPad tablet to $100 on eBay, pointing to an open-source shift of its WebOS strategy.
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