The latest rumor floating around Silicon Valley: Hewlett Packard's newest board member, Marc Andreessen, the Silicon Valley legend who founded Netscape, pushed former CEO Mark Hurd out the door in an effort to assert his influence on the company's direction.
According to news reports, HP's directors were surprised Hurd had settled the sexual-harassment claim before they could learn more about the incident. This contributed to their unanimous vote to oust Hurd as CEO the following day.
Inappropriate reporting of expenses got Mark Hurd fired from his job running Hewlett-Packard. Will it also cost him his seat on News Corp.'s board of directors?
The woman at the center of the Hewlett-Packard scandal has already used up about 10 of her 15 minutes of fame. But there are many unanswered questions in this sordid tale that should disturb investors.
If the scandal surrounding former Hewlett-Packard CEO Mark Hurd's resignation has taught us anything, it's this: Dishonesty pays at HP -- if you hold a high enough position, that is. Whether we like it or not, employees look to those above them for cues about appropriate workplace behavior, and that includes fraud.
While HP's stock doubled under Hurd -- from $21 to below $42 -- and his departure sliced off 10% of its value, there seems to be a gap between HP's net income growth and the slide in its cash position with him as CEO.
