Former HP CEO Hurd Accused of Sharing Secret Buyout Plans

Hurd Shares Corporate SecretsJodie Fisher, whose relationship with Mark Hurd helped bring about his ouster as the CEO of Hewlett-Packard (HPQ), claimed in a letter from her attorney that Hurd shared information about HP's buyout of Electronic Data Systems before it was made public.

This and other information about the relationship was uncovered in an investigation by the Wall Street Journal. The report says the the HP board lost confidence in Hurd as it discovered that what he told them and the counsel they hired to look into the matter was not true.


Hurd indicated early in the board's investigation that he did not know Fisher well. The Journal reports that the board learned otherwise. "In one previously undisclosed example: The CEO had told directors he didn't know Ms. Fisher acted in adult movies, say people briefed on the matter, but investigators hired by H-P learned he had visited Web pages showing her in pornographic scenes, including a site called "erotic4u.com."' Hurd also saw Fisher numerous times, something he did not admit to the board.

Perhaps what most concerned the board in the June 29 letter from Fisher's attorney Gloria Allred was the accusation that Hurd told Fisher in early 2008 about HP's plans to buy IP consulting firm EDS. The information would not have been public at that time. The $13.9 billion deal was announced in May.

The Journal account says that some directors supported Hurd through most of the investigation, but decided to make the vote to remove him unanimous just before he resigned on August 6.

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MSmailbox

I did cop over $60,000 in over a weekend, though. That's what I mean, by coincidence. :-) Oh yeah, I think there was $9 k in dividends, but who's counting. Hi Nancy! Sixteen years later and I'm still suffering nightmares of my time with EDS. NO ship! Last night, I dreamed that we were out in Trim, trying to get a printer to work. Thank God, Dave Leacox helped me to get it going and I took notes, too. It really was great having at least one competant support-programmer, like Dave. If it weren't for people like him, our account would have died... It is still alive, isn't it? Anyway, I'm still alive... They feed me tons of pills, to keep me quiet, but sometimes I speak out. You surely remeber how outspoken I was... I never lied, unless it was just a joke and then, I'd always tell the complete truth (to everyone), immediately afterward. It's been hell, being isolated and all. Do you still need a Communications Project Specialist?

November 07 2010 at 2:16 AM Report abuse rate up rate down Reply
MSmailbox

Trutfully, I just got "lucky," on the EDS buyout. A takeover was 25% of my rational, for taking such a large position. I just couldn't resist saying this, though, because of the coincidence and because of "sour grapes," with regards to being canned by EDS, in 1993. They drove me out of my mind and then, set me up. No one can blame me for being furious, with them. Anyway, that was a long, long time ago and I'm just glad to be free from the GM Account. It was like working in a place inhabited by evil spirits (a reference to a nightmare, that I once had). I never actually met Mr. Hurd, nor do I ever care to.

November 07 2010 at 2:06 AM Report abuse rate up rate down Reply
MSmailbox

And another thing... The EDS buyout was the single most profitable trade that I've ever had! I bet everything on it and came up a winner. I wish to thank my former managers at EDS for turning me on to this guy. We weren't saints, heck no! We smoked dope, like fiends, but we were the best in class. World-class professionals, delivering a world-class product.

November 07 2010 at 2:00 AM Report abuse rate up rate down Reply
MSmailbox

And another thing... The EDS buyout was the single most profitable trade that I've ever had! I bet everything on it and came up a winner. I wish to thank my former managers at EDS for turning me on to this guy. We weren't saints, heck no! We smoked dope, like fiends, but we were the best in class. World-class professionals, delivering a world-class product.

November 07 2010 at 2:00 AM Report abuse rate up rate down Reply
MSmailbox

Mark was always very friendly to me... I appreciated every last bit of info that he was willing to share with me. To allege this sort of thing is highly uncalled for!

November 07 2010 at 1:56 AM Report abuse rate up rate down Reply
sgentilejr

As a CEO this man was paid a salary to bring increased sales and increased profits to HP and that is exactly what that man did. He brought higher sales and profits to HP quarter after quarter. He was not being paid a salary to be a Saint. General Ulysses Grant was an alcoholic. The other Generals complained to President Lincoln that Grant was an alcoholic. Lincoln said maybe___but he is winning more battles that any of you guys. Lincoln then asked where can I find more alcoholic Generals who can win more battles like Grant. Time will tell___________ if HP's Board of Directors won or lost their battle for higher sales and profits when they let their CEO go. If letting their CEO go results in lower sales and lower profits____then it is the Board of Directors who should be replaced for letting their General go.

November 06 2010 at 12:40 PM Report abuse -3 rate up rate down Reply