August 6, 2010 - Hewlett-Packard Co. said CEO Mark Hurd will resign, effective immediately, as a result of a sexual-harassment probe that found violations of company standards.

HP stated that the investigation determined there was no violation of HP’s sexual harassment policy but did find violations of HP’s standards of business conduct.

“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,” Hurd was quoted to say. “I believe it would be difficult for me to continue as an effective leader at HP,” he added.

Hurd stressed that this decision does not reflect on the operating performance or financial integrity of HP. He also commented that HP has a talented executive team and dedicated workforce, and he expects the company will continue to be successful.

Hurd joined HP in early 2005 as CEO and president and was named chairman of the board of directors in September 2006.

HP named Chief Financial Officer Cathie Lesjak as its interim CEO and stated that a board committee will look for a new chairman and permanent CEO.

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