MoneyDrone
08-06-2010, 06:44 PM
(Reuters) - Hewlett-Packard Co Chief Executive Mark Hurd resigned suddenly on Friday following an investigation of sexual harassment, the world's top computer maker said, stunning investors and sending shares down 10 percent.
Hurd, who has led HP since 2005, will be replaced by Chief Financial Officer Cathie Lesjak on an interim basis. Lesjak has taken herself out of consideration as the permanent CEO.
HP said an investigation into allegations of sexual harassment involving Hurd and a former HP contractor determined that there was no violation of HP's sexual harassment policy, but did find violations of HP's standards of business conduct.
HP said Hurd, who is 53 and married, had a "close personal relationship" with the contractor and had submitted inaccurate expense reports.
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Hurd, who has led HP since 2005, will be replaced by Chief Financial Officer Cathie Lesjak on an interim basis. Lesjak has taken herself out of consideration as the permanent CEO.
HP said an investigation into allegations of sexual harassment involving Hurd and a former HP contractor determined that there was no violation of HP's sexual harassment policy, but did find violations of HP's standards of business conduct.
HP said Hurd, who is 53 and married, had a "close personal relationship" with the contractor and had submitted inaccurate expense reports.
The rest here:
[Only registered and activated users can see links]