Chairman, Chief Executive Officer and President Mark Hurd has resigned from HP after an investigation into a sexual harassment claim found he submitted inaccurate expense reports.
In a statement the company said, “The investigation determined there was no violation of HP’s sexual harassment policy, but did find violations of HP’s Standards of Business Conduct.”
HP has appointed CFO Cathie Lesjak, 51, as CEO on an interim basis. Lesjak took herself out of consideration as the permanent CEO but will serve as interim CEO until the selection process is complete.
Hurd said: “As the investigation progressed, I realised 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.”
Update: It’s emerged that the women behind the scandal, Jodie Fisher, has said that she’s "surprised and saddened" that Hurd has lost his job. The 50 year-old is said to have known Hurd through her contract jobs with HP's marketing department. She was paid up to US$5000 per event to greet people and make introductions among executives attending HP events. Read more over on the Herald.