They say bad news is delivered on Fridays in the corporate world. For HP, this could be bad news. Mark Hurd, HP’s now retired CEO, stepped down yesterday after a marketing contractor accused him of sexual harassment. HP looked into the situation, and found that while Mark didn’t engage in sexual harassment, he did, however, violate their policy for conduct. You see, Mark Hurd is a married man, and was apparently having an affair with the marketing contractor in question. In order to hide his relationship with her, Mark filed inaccurate expense reports. He also (obviously) didn’t disclose his relationship to them.
Since stepping down, HP’s shares were down more than 9%. Who knows what they’ll do after the markets open again on Monday.
As for Mark, he could see severance pay as much as $53 million. He may need that to hire a good divorce lawyer.
via CNN Money