Former HP CEO Hurd faces renewed investigation from angry shareholders

Responding to a shareholder lawsuit, Hewlett-Packard will begin an investigation into the departure of former Chairman, President, and CEO Mark Hurd. Hurd resigned from his positions in the company last August amid sexual harassment claims brought against him by a former HP contractor Jodie Fisher.

it is believed that Hurd's departure was the result of a failure to cooperate with HP's executive board as it investigated the incidents, and that Hurd offered Fisher a settlement before a full investigation could be conducted.

Shareholders filed two separate lawsuits against the company in November, claiming that HP had adequate cause to fire Hurd and deny him the significant severance package he received as a result of his resignation. Hurd received $12.2 million in cash and an estimated $30 million in stock options in the severance deal.

According to a January 14 court filing from HP, the probe will investigate the "circumstances surrounding the departure of Mark Hurd and the board's decision to approve the separation agreement between HP and Mr. Hurd."

Comments are closed.

© 1998-2024 BetaNews, Inc. All Rights Reserved. Privacy Policy - Cookie Policy.