HP has announced that Mark Hurd, the company’s CEO, President and Chairman, is resigning all of his positions with the company, effective immediately, following an investigation into a sexual harassment claim between Hurd and a former HP contractor.
Cathie Lesjak, the company’s CFO, will be replacing Hurd as CEO on an interim basis, though she will retain her duties as CFO during the search for a new chief executive officer. The company has created a search committee to select a new Board Chair and CEO, one that includes Netscape founder and venture capitalist Marc Andreessen. Lesjak has taken herself out of consideration for the permanent CEO role.
“Hurd’s decision was made following an investigation by outside legal counsel and the General Counsel’s Office, overseen by the Board, of the facts and circumstances surrounding a claim of sexual harassment against Hurd and HP by a former contractor to HP,” the company said in a statement today. “The investigation determined there was no violation of HP’s sexual harassment policy, but did find violations of HP’s Standards of Business Conduct.”
Hurd took over as interim CEO on February 10, 2005 before becoming the company’s permanent CEO, succeeding Carly Fiorina.
“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,” Hurd stated in the company’s announcement.
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Cheers!…
