Mark Hurd HP CEOThe chief executive of Hewlett-Packard (HPQ) resigned Friday amid allegations of sexual harassment.

In announcing the resignation of CEO and President Mark Hurd, the company said it did not find any violations of sexual harassment, but did find Hurd violated the company's standards of business conduct. The board appointed CFO Cathie Lesjak on an interim basis.

The sexual harassment claim was made against Hurd and HP by a former contractor. Some immediate reports said that the claims stemmed from inappropriate expenses.

"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 said in a statement. "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.

The company's stock was dropping several percent in after-hours before trading was halted on the news.

In the same announcement, the company announcing preliminary results for the third fiscal quarter 2010, with revenue of approximately $30.7 billion up 11% compared with the prior-year period.

Lesjak has taken herself out of consideration as the permanent CEO but will serve as interim CEO until the selection process is complete. Candidates from both inside and outside the company will be considered. The selection of a new chairman will occur in conjunction with the CEO decision, the company said.

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scrubabub

Mark Hurd is a scumbag. First for taking a job he was not qualified to do. Then for fussing with a floosie, knowing that she could have been setting him up. That proves that morally he is a dumb ass. Having said that, HP felt so sorry for the loss of his job they gave him millions to go away. What has America come to? Surely the end is near... What ever happened to firing a moron with purpose. Where are the sheep they call HP stockholders?

August 10 2010 at 5:10 PM Report abuse +1 rate up rate down Reply
kaysieverding

Mark Hurd, Eliot Spitzer, and former judge Naughty Nottingham all had safe sex options but chose risky sex instead. Maybe they have some sort of progressive cognitive impairment shown as reduction in risk aversion, or maybe they were always reckless. A bad characteristic for anyone in leadership or responsible for other people's lives.

August 07 2010 at 1:43 PM Report abuse rate up rate down Reply
mossypond

And this is EXACTLY what is wrong with America - we have begun rewarding immoral, unethical, incompetant CEO's with multi-million dollar "payoffs" to get them to quit jobs they NEVER should have had in the first place.

August 07 2010 at 8:13 AM Report abuse +3 rate up rate down Reply
magnumfingers

This is something more than just ’sexual harrasment’ and Mark Hurd decides to just resign than having his skeletons buried deeply, getting dig by the media.

Hopefully, it’s the case. But certainly this won’t be the end. I just hope their HP palmpad would still be possible and a new CEO would be elected soon. HP’s Messiah Device Going Real! http://2su.de/08t

August 07 2010 at 6:45 AM Report abuse +1 rate up rate down Reply
tsqd

Makes Carli Fiorina look like the belle of the ball again, doesn't it?

August 07 2010 at 3:37 AM Report abuse +2 rate up rate down Reply
blt4trucking

I think the Republican Party must pay for the two wars they started and put it on
a credit card that the tax payers have to pay. It their war and its their responsiblity. We would not be in this type of condition if they had done the right thing.

August 07 2010 at 2:27 AM Report abuse -1 rate up rate down Reply
1 reply to blt4trucking's comment
Gene

Yes, and if the democrats would quit sending foreign aid to every country that doesn't like us, and if Nancy Pelosi would quit spending 7 million per year just to ferry her ass and her cronies back and forth every week, and if the democrats would quit trying to find ways to give away money to illegal aliens, you're right, we would not be in this mess.

August 07 2010 at 1:47 PM Report abuse rate up rate down Reply
slimypondscum

Now that is a really wierd thingy there. He didn't do nuffin wong but he gotta go. Sounds like somebody set him up an he jus can't prove it

August 07 2010 at 1:24 AM Report abuse +2 rate up rate down Reply
1 reply to slimypondscum's comment
pmbalele

I hope HP does not ship jobs to Malasya,Japan, Argentina, Mexico where a lot CEOs hide their mistresses. In those countries top executives do not face scrutiny of sex harrassment. Sex harrassment does not exist in those countries.

August 07 2010 at 1:13 AM Report abuse +3 rate up rate down Reply
2 replies to pmbalele's comment
slimypondscum

Makes ya wonder huh.

August 07 2010 at 1:24 AM Report abuse rate up rate down Reply
debbiepaechtree

Not sure where you have been but HP is the single most source of jobs moving over to Malaysia. I have personally talked to a guy in Malaysia that is now doing the work that I was doing 2 years ago while I still had a job and before it was sent overseas. I can also tell you about the 700 plus US jobs that went to Costa Rica and Argentina when they moved in to the site I used to work at in Washington. I could not be happier that he is now our of a job. Of course he won't know how all of us fell -- he has his millions.

August 07 2010 at 3:50 AM Report abuse +1 rate up rate down Reply
cheaperbird12

oh well i hope she cute..my dad messed my head up so bad when i was a teenager that i got to the point where i would doink anything just to say i got laid..!...finally ..i think i got my mind back somewhat...and now i don't even get hard..i am looking for that 1 special lady who knocks me out just when i see her...!..i love that feeling..it's better than any drug i ever took....it's better than money too..!

August 07 2010 at 12:55 AM Report abuse rate up rate down Reply
1 reply to cheaperbird12's comment
slimypondscum

I'm an old man an I ain't ot that feeling yet. Thoght I had but it was jus lust.

August 07 2010 at 1:26 AM Report abuse -2 rate up rate down Reply
polistotle1

When the CEO resigned, the price of Hewlett-Packhard stock fell. This fall is a concession to political correctness the United States cannot afford, especially during times when the economy is bad. For most of our nation's history, the concept of "sexual harassment" has not existed. Niether did the broken careers, public humiliation, costly litigation, diversion of time and resources, etc. which have accompanied this ill-conceived feminist concept. In times past, the relationships between adult men and adult women were--quite properly--unregulated, left to the persons involved to sort out. The explosion of "ethics" in the post-Watergate era, the radical liberalism of the children of the 1960's now in power, and the unnatural quirks sought by feminists have wrought havoc. The result has been costly. It is time to reassert the traditional standard that a man's private conduct is in fact private and unrelated to his duties in the workplace.

August 07 2010 at 12:34 AM Report abuse -2 rate up rate down Reply
1 reply to polistotle1's comment
slimypondscum

If it ain't a kid ain't nuttin wrond with askin. If she say no then so be it . If you ain't man enuff to accept it then you retaliate. I you retaliate that proves your imaturity and the fact you have no business at the head of a company.

August 07 2010 at 1:30 AM Report abuse +2 rate up rate down Reply