HP Chief Executive Hurd Resigns After Sexual-Harassment Probe
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Hewlett-Packard Co.’s Mark Hurd resigned as chief executive officer after an investigation found he had a personal relationship with a contractor who received numerous inappropriate payments from the company.
Chief Financial Officer Cathie Lesjak, 51, will take over as interim CEO. While an investigation didn’t find a violation of the company’s sexual-harassment policy, Hurd “demonstrated a profound lack of judgment that seriously undermined his credibility and damaged his effectiveness in leading HP,” General Counsel Michael Holston said. The shares plunged 9.3 percent in late trading after the announcement.