By Khalida Sarwari
Palo Alto-based Hewlett-Packard today announced CEO Mark Hurd is resigning following an investigation into sexual harassment allegations.
The investigation into the allegations brought forward by a former HP contractor found Hurd, 53, had not violated the company’s sexual harassment policy, but did violate HP’s standards of business conduct.
Hurd said in a statement, “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…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.”
The resignation will take effect today. Chief financial officer Cathie Lesjak, 51, a 24-year veteran of the company, was appointed as Hurd’s temporary replacement.