MARK HURD, CEO of Hewlett Packard has cleaned out his desk after an investigation into a sexual harassment case involving a female marketing department contractor led to his resignation after other business standards issues arose.
HP has confirmed that Hurd did not violate its sexual harassment policy but broke its rules of conduct. The company has named chief financial officer Cathie Lesjak as its interim CEO. Hurd has been credited him with reviving HP's fortunes since taking over as boss five years ago.
In an HP statement Hurd said: "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. After a number of discussions with members of the board, I will move aside and the board will search for new leadership."
This is a painful decision for me to make after five years at HP, but I believe it would be difficult for me to continue as an effective leader at HP and I believe this is the only decision the board and I could make at this time. I want to stress that this in no way reflects on the operating performance or financial integrity of HP." µ
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