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HP CEO Resigns During Sexual Harassment Investigation
A number of readers are letting us know that HP CEO Mark Hurd just resigned over sexual harassment accusations. The company's board has appointed CFO Cathie Lesjak as interim CEO. A contractor had accused Hurd of sexual harassment, and the board brought in outside counsel to investigate. While the harassment claim could not be substantiated, the investigation did uncover other misconduct. Hurd's "close personal relationship" with the contractor created a conflict of interest, and he was also found to have misused company assets. In a 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."
Sounds like a classy guy, but sadly I'm guessing this is par for the course at this level of "leadership" in most companies.
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He "realized there were instances" of misconduct on his part? More like he realized he'd been caught.
"As the investigation progressed, I realized there were instances in which I did not live up to the standards and principles..."
Thank goodness there was an investigation, so he could realize what he had done!
More like, at some point in the investigation he realized that he was busted and couldn't cover up or plausibly deny things. He was probably feeling pretty untouchable up to that point after coming out unscathed from the other little upset they had a while back.
Anyone else's skin crawl as they read the rehearsed and empty words? Reeks of a sociopath saying what he thinks folks want to hear to let him off the hook. Funny how many seem to make it to the top.
but sadly I'm guessing this is par for the course at this level of "leadership" in most companies.
Yeah but HP also had Carly who was forced to resign. Hopefully trouble doesn't come in 3's for HP.
**Sniff** I remember when HP was a well respected company and its equipment was built like a tank
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While it pains me to defend this piece of shit, the truth is that the pretexting was the handiwork of Patricia Dunn (chairwoman of HP board at the time), and the Hurd wasn't involved.
Now that the Hurd is abandonware, will HP contribute the source back tot he community?
I've been waiting for Gnu to deliver the Hurd for the last 20 years, and this might be enough to get them over the hump.
I find it hilarious/scary that whenever a CxO gets caught doing something stupid/criminal, the defense is always ignorance. These weasels who get paid more in a day than I get paid in a year suddenly become the most oblivious, ignorant, and stupid morons in the world when they are being investigated for wrongdoing.
It wasn't until the middle of the investigation that he realized he did something wrong? *retch*
Possible scenario:
He hires a mistress / "marketing" contractor.
Takes her on "fact-finding trips" in a company jet.
Dumps her / stops paying.
She sues for "harassment."
Board figures out the real story and lets him "resign"... in the meantime, they quietly pay off the mistress in return for her not filing suit. (Once you've gone public and filed suit with a high-profile case like this, you've just pissed away your best bargaining chips, which involve sweeping under the rug.)
If I was HP's board, I would not have let him resign; he would have been fired on the spot. Although I admit to being surprised that they didn't ham-handedly cover up the story; perhaps they learned their lesson with the wiretap fiasco from several years ago.
SirWired
I wonder what kind of golden parachute the board paid to make him go away quietly?
According to CNN, he could make $53 million in severance pay.
Note to self: Stop putting jokes in my insightful comments so I can get something other than +1 Funny!
Posting this anonymously since I work for HP.
Seems Mark violated the Standarts of Business Conduct (SBC). Every new employee has to study the SBC and every year these is a mandatory training on understanding this document. It kind of discredits both the SBC and the trainings if the CEO breaks his own rules.
Oh, and I hope they will find a new CEO who actually understands how technology works. Mark was not much better than Carly - HP now hardly does any serious R&D (except for HP Labs which actually does pretty cool stuff), preferring to buy established companies.
As an employee of HP, good riddance. The company's employees have been treated like dirt for at least the past two years. I don't think there is one person who sits within 50 feet of me who isn't actively job hunting. Sexual harassment is just one of his many offenses.
In Las Vegas, that type of contractor is called an "escort."
ELOI, ELOI, LAMA SABACHTHANI!?
$40 to $50 million by current estimates: http://www.businessinsider.com/hp-severance-2010-8.
Part of me wonders if it was actually in his contract that even on being fired for ethical/criminal reasons [i.e. not just fired because "we don't think you're pumping the stock quite enough"] he gets a severance or if the board just wants this over with / is such pals with him / whatnot that they gave it to him anyway. If the former is true -- the hiring committees really need to make better contracts (and stop being packed with the friends of the folks they're hiring... but I suppose that's what happens when boards keep cross-pollinating as they do).
Wow, a 53 million dollar reward for sexual harassment, theft, and other misconduct to horrifying to speak aloud. Friends we are in the wrong goddamn industry.
If you can read this, I forgot to post anonymously.
$50e6 probably sounds very reasonable when you're accustomed to making $30e6 every year. It's funny, how small must have his fraudulent expenses been, compared to being paid over $100K every single work day. He probably feels like he just got fired for going home with an HP ballpoint pen in his pocket.