Mark Hurd Quits : Hp Ceo Scandal – Hurd Sexual Harassment – The CEO of Hewlett Packard Mark Hurd, who is one of the highest profile CEOs in the country, resigned on Friday after a sexual harassment claim was made against him and the company. HP said the investigation found that he did not violate their conduct policy, but that he decided to take this time to resign despite their findings.
Their shares were down more than 9% in after hours trading, and also had a slight decline throughout the day. 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 filed expense account reports that were largely inaccurate in a bid to keep the relationship a secret.
It was clear that Hurd did not display any honesty in the way that he acted, and the company may have forced him into an early retirement. The company said that Cathie Lesjak will be taking over as the interim CEO while they explore their options.
They will be looking for a new CEO and will consider anyone, whether they come from inside the company or from the outside. The company has had its fair share of problems in recent years, and it was clear that they were looking to get as far away from the recent fiasco as possible.
Hurd has been held in high regard on Wall Street, but his actions forced the shareholders to turn on him, despite the fact that he was a key factor in boosting the profit margins of the ailing tech company.