HP's CEO Mark Hurd has resigned. The Wall Street Journal reports Mr. Hurd resigned because of a sexual-harassment investigation surrounding his relationship with a contractor. Mr. Hurd said:
“As the investigation progressed, 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 and which have guided me throughout my career.”
HP said that the former CEO did not violate the company’s sexual-harassment policy, he did violate HP’s “Standards of Business Conduct," apparently submitting inaccurate expense reports to cover up the relationship.
Chief Financial Officer Cathie Lesjak will assume the roll of interim CEO.
The Board has appointed CFO Cathie Lesjak, 51, as CEO on an interim basis. Lesjak is a 24-year veteran of the company who has served as HP’s CFO and as a member of the company’s Executive Council since January 2007. She oversees all company financial matters and will retain her CFO responsibilities during the interim period.
Hurd had been with HP for five years. Who will be the next CEO? Is John Rubinstein being considered? This would be a fine time to bring some Apple'ish culture to the top of HP.
“As the investigation progressed, 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 and which have guided me throughout my career.”
HP said that the former CEO did not violate the company’s sexual-harassment policy, he did violate HP’s “Standards of Business Conduct," apparently submitting inaccurate expense reports to cover up the relationship.
Chief Financial Officer Cathie Lesjak will assume the roll of interim CEO.
The Board has appointed CFO Cathie Lesjak, 51, as CEO on an interim basis. Lesjak is a 24-year veteran of the company who has served as HP’s CFO and as a member of the company’s Executive Council since January 2007. She oversees all company financial matters and will retain her CFO responsibilities during the interim period.
Hurd had been with HP for five years. Who will be the next CEO? Is John Rubinstein being considered? This would be a fine time to bring some Apple'ish culture to the top of HP.
