HP CEO stuns everyone, resigns citing he didn't live up to company's standards
Monday, 09 August 2010, 15:42 IST   |    6 Comments
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HP CEO stuns everyone, resigns citing he didn't live up to company's standards
San Francisco: Mark Hurd, Chief Executive of computer giant Hewlett Packard (HP), has resigned following an investigation into charges of sexual harassment, the company announced Friday. HP said the investigation determined there was no violation of HP's sexual harassment policy but did find violations of HP's Standards of Business Conduct. According to a company statement, the investigation revolved around sexual harassment allegations made by an outside contractor with HP. It said that Hurd "with the board of directors" had decided to resign immediately, a signal that the chief executive who had revitalised HP since taking over in 2005 was forced to fall on his sword. "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," said Hurd. "After a number of discussions with members of the board, I will move aside, and the board will search for new leadership." Chief Financial Officer, Cathie Lesjak, 51, will take over as interim Chief Executive while the company searches for a permanent replacement, HP said.
Source: IANS
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