Mark Hurd resigns over sexual harassment scandal
Edited by Yuzhesoft, Aug. 16, 2010
HP CEO Mark Hurd has resigned over a sexual harassment investigation. He was charged of sexual harassment by Jodie Fisher, a 50-year-old former actress and reality TV star, knowing Hurd while working as a marketing consultant for HP.
HP claims that although there was no violation of its sexual harassment policy, Hurd went against the company's standards of business conduct by submitting inaccurate expense reports and concealing the personal relationship with Jodie Fisher.
The news of resign not only astonishes Wall Street and Silicon Valley but also beyond the expectation of Hurd. Though board of directors criticize Hurd violates the company's standards of business conduct, Hurd still obtains considerable “parting gifts”, including 53,000,000 dollars, stocks, restricted stocks and medical fees for further 18 months.
The resign of Hurd triggers the suspiciousness of industry peers, including Larry Ellision, the CEO of Oracle Corporation. He said “it is the most stupid decision to discharge Hurd”. The view says the actions of board of directors are cowardly and they dare not announce the true reason for discharging Hurd.
TIME considers Hurd violates the principle of good faith and this will be magnified in HP which has a strong corporate culture. However, no person really knows the true reason of discharging Hurd.