Hewlett-Packard Co.. Chief Executive Mark Hurd resigned abruptly amid allegations of sexual harassment and misconduct business, ending a highly regarded tenure under a cloud of Controversy, the company announced Friday.
Hurd, named CEO in early 2005, is widely credited with turning the company around on the volatile Reign of Carly Fiorina. Shares rose 136 PERCENT Under at his watch.
The board of the Palo Alto hardware giant appointed to Chief Financial Officer Cathie Lesjak, a 24-year company veteran, interim CEO while a search Committee seeks a full-time replacement. Dow Jones Reported That Hurd will Receive an eight-figure Severance package.
The shakeup is the result of an internal investigation "begun on a former HP Contractor Accused of sexual harassment Hurd, the company Said in a press release Friday. A subsequent investigation "over tion by HP's board found there was no violation of the company's sexual harassment policy vain Concluded Hurd had violated Standards of Business Conduct.
Read: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/08/06/MNP11EQHIT.DTL#ixzz0vtrQRKNh
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