THE TELEGRAPH: Mark Hurd resigned last night from his post at the helm of Hewlett-Packard (HP) following a sexual harassment investigation.
Mr Hurd, chairman and chief executive of the world's largest personal computer manufacturer since April 2005, agreed to step down with immediate effect after he was found to have violated the company's own business conduct standards.
The HP probe was sparked following allegations from a former contractor, with whom Mr Hurd admitted he had a "close personal relationship". The company also said that Mr Hurd submitted false expense reports in an effort to conceal the relationship.
Shares in HP fell as much as 10pc on the news in extended after-hours trading, in spite of the company pre-announcing better-than-expected second quarter sales of $30.7bn (£19.3bn). >>> James Quinn | Saturday, August 07, 2010
