Mark Hurd is out as CEO of HP. That little stunner dropped after close of business today when Hewlett-Packard disclosed an internal investigation into a relationship between Hurd and an unnamed marketing consultant.
In a statement, Hurd said:
“As the investigation progressed, I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP and which have guided me throughout my career.”
For its part, HP said the company’s sexual harassment policy was not violated but its standards of business conduct were.
HP partners are no doubt stunned by this. Members of HP’s VAR councils were big fans of Hurd’s leadership and cited his willingness to meet with them over their concerns. He helped temper HP’s “double down” mantra by telling them that they, too, would profit more if they worked more with HP.
HP’s CFO Cathie Lesjack will fill the interim CEO slot and has taken her name out of consideration for the full-time gig.