According to Business Insider, the HP board of directors launched an independent investigation into the former CEO’s behaviour after correspondance was sent to outside legal counsel back in June 29.
The consultant is said to have been collaborated in various marketing services for the company and whilst there were no sexual harassment violations, Hurd’s actions are said to have contravened HP’s Standards of Business Conduct policy.
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. After a number of discussions with members of the board, I will move aside and the board will search for new leadership. This is a painful decision for me to make after five years at HP, but I believe it would be difficult for me to continue as an effective leader at HP and I believe this is the only decision the board and I could make at this time. I want to stress that this in no way reflects on the operating performance or financial integrity of HP.”
Whilst HP looks for a new CEO, CFO Cathie Lesjak will step into the position on an interim basis.
The full PR release can be found here.