HP Chief Mark Hurd Resigns
6th August 2010
Photo by Justin Sullivan/Getty Images
By Colin Barr, senior writer, Fortune
[excerpt]
Hewlett-Packard chief executive officer Mark Hurd, one of the highest-profile CEOs in America, resigned Friday following a sexual harassment claim against him and the company.
HP said an investigation found Hurd didn’t violate its sexual harassment policy. But he did violate its standards of conduct policy, the company said.
HP (HPQ, Fortune 500) shares were down more than 9% in after-hours trading following a slight decline in regular action.
Executives said Hurd, who is married, failed to tell the board about a personal relationship with a female marketing contractor who was hired by his office. He repeatedly filed inaccurate expense account reports in a bid to keep the relationship secret, HP said.
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