The Hurd Saga Continues, HP Reopens Sexual Harassment Case
Hewlett-Packard is allowed to proceed with its investigation over former CEO Mark Hurd’s departure, according to a federal court decision. The judge halted the lawsuit that prompted Mark Hurd from being investigated for having had a personal relationship with a contractor and for receiving $53 million in severance. HP’s former chairman and CEO Mark Hurd asked Delaware judge Donald Parsons Jr. to allow him to intervene in a shareholder’s lawsuit and add his name to Hewlett-Packard’s books and records. The intervention would allow Hurd to fight to keep a letter from Gloria Allred about his departure confidential.
It is no coincidence that Hewlett Packard has now replaced Joel Hyatt, John Joyce, Robert Ryan and Lucille Salhany former board members with Shumeet Banerji, Gary Reiner Patricia Russo, Dominique Senequier and Meg Whitman. Hewlett Packard is now resuming its internal investigation on CEO Mark Hurd’s departure and his over-sized severance package.
The investigation commission consists of CEO Leo Apotheker and outside lawyers, and will cover Hurd’s departure as well as his $12.2M cash payout and selling of $30M worth of stocks he received. Soon after, Mark Hurd joined Oracle, and The New York Times alleged that filing suit against Mark Hurd was a protective measure to ensure the company’s secrets are not shared to Oracle, a solid competitor of Hewlett Packard.
Hewlett-Packard shareholders have reportedly sued the board members on grounds of not properly handling former CEO Mark Hurd’s resignation and severance agreement. According to Forbes blog, “The sealed lawsuits seek information about the board’s review of the sexual harassment allegations against Hurd. At least on case, brought by investor Lawrence Zucker, seeks a monetary ruling. Hurd left the company, and was soon hired as co-president at Oracle.”
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