Posts Tagged ‘expenses’

Oh Boy. Mark Hurd is in Twouble…

Oh Boy. Mark Hurd is in Twouble…

Mark Hurd, chairman, CEO and president of HP speaks at the Fortune Brainstorm Tech conference in Pasadena, California, in this July 24, 2009 file photo. Hurd resigned on August 6, 2010 following an investigation of sexual harassment, the world's top computer maker said. REUTERS/Fred Prouser/Files (UNITED STATES - Tags: MEDIA BUSINESS SCI TECH)

Courtesy of Joshua M Brown, The Reformed Broker 

This stuff always happens after the close on a Friday!  Mark Hurd has been the best thing to happen to Hewlett-Packard ($HPQ) since, well, since they got rid of Carly Fiorina.  Hurd made them relevant again, keeping pace with Apple and kicking Dell’s ass.

And now he’s been caught making secret payments to an outside marketing chick.  The stock is reacting in the after hours negatively.

The Wall Street Journal is live-blogging the resignation conference call:

Hewlett-Packard Chairman and CEO Mark Hurd has resigned, effective immediately, in the wake of a sexual-harassment investigation.

In a call with media, H-P said the other person involved in the investigation was a contractor who provided marketing services for the company and was paid fees for those services as well as for reimbursement of those expenses. Some of these payments were, however, “in question,” the company said on the call.

In addition, H-P emphasized that the announcement of Mr. Hurd’s resignation “has nothing to do with the performance of the company” and was instead “all about Mark’s behavior and judgment.”

You know you want the details, head on over…

Source:

Live-Blogging H-P’s Announcement (WSJ) 


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