CEO of Hewlett-Packard, Mark Hurd, announced his resignation from the company on Friday. Hurd, who has made HP bigger and better while working for the company, made his resignation on the heels of a sexual harassment scandal and some expense backlash from HP.
"HP said an internal investigation found 'numerous instances' in which Hurd submitted inaccurate expense reports meant to conceal Hurd's 'close, personal relationship' with an independent contractor. The inquiry was launched after the unidentified contractor claimed she had been sexually harassed by Hurd" (The LA Times).
Talk about a full plate. Not to worry about Hurd, 53, and his retirement options though... it turns out that HP is giving him a severance package worth an estimated $12 million (The LA Times). It's evident that Hurd was valued and that HP respects what he did for the company, regardless of the scandals that are currently surrounding him. It's also a relief that he's getting so many millions in severance pay, after all, if he is found guilty of sexual harassment, he may have to share some of it.
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Â© Effie Orfanides 2010