CEO Resigns from HP Computers

If you haven’t read any of the coverage on the recent scandal from HP computers, well here is a quick breakdown and a couple quotes to catch you up. Note: If you are here looking for HP computers and accessories, click here.

HP’s chief executive, Mark Hurd, said he will be taking over as chairman immediately, this sparked shares of HP to rise 1% in after hours trading. He also said he regrets the way the investigation was handled, but that the leaks had to be rsolved. He said the results of an independent investigation were disturbing.

Hewlett Packard chief executive Mark Hurd said Friday that he is taking over as the company’s chairman effective immediately, replacing Patricia Dunn, who was at the center of the company’s spying scandal.

Last week HP said Hurd would succeed Dunn as chairman following the company’s Jan. 18 board meeting, and that she would remain on the company’s board. But now Dunn will leave the board altogether, the company said.

“The unauthorized disclosure of confidential information was a serious violation of our code of conduct,” Dunn said in prepared remarks. She said she was stepping down at the request of the board. Source: CNNMoney

The complete rundown:
Sept. 6
HP discloses that “pretexting” was used during an investigation into company leaks. California Attorney General Bill Lockyer says he’s investigating the tactics used.

Sept. 8
HP confirms the phone records of nine journalists were targeted during the internal probe.

Sept. 10
HP’s board of directors convenes an emergency meeting but no action is taken.

Sept. 11
HP says the U.S. Attorney for Northern California has requested information related to its probe. House Committee on Energy and Commerce asks HP to hand over documents related to the investigation.

Sept. 12
HP says Patricia Dunn will step down as chairman of the board in January and will be succeeded by CEO Mark Hurd. Board member George Keyworth resigns.

Sept. 22
Dunn resigns as chairman and member of the board. Hurd takes over chairman position.


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