In the conference call following the shocking ousting of HP CEO Mark Hurd, it was revealed that the real reason he was forced out (can we just say “fired,” please?) was because he filed false expense reports to hide the affair he was having.
Here’s the description in the NYT:
Michael Holston, executive vice president and general counsel, said during a conference call that the violation [that Hurd was fired for] involved expense reports, though he would not discuss the amount of money involved. Mr. Holston described Mr. Hurd’s relationship with the contractor as “close” and “personal.” The woman, he said, had been hired by the office of the chief executive. He also said the inaccurate expense reports were intended to conceal the personal relationship, adding that it showed “a profound lack of judgment.”
We have also, of course, learned that Mark Hurd will be getting a $50 million severance payout ($12 million in cash, plus stock). This is on top of the $10 billion of market value that HP shareholders have lost so far as a result of his sudden departure.
Another corporate scumbag getting away with millions. When is this going to stop?
Found by Cinàedh.
I need one of those jobs but first I need to cheat/lie/harass the ladies/etc. One thing at a time here, I’m not a genius like these pro’s 🙂
I would feel worse if Hurd hadn’t made so much money for HP.
Using GiG’s logic, it’s ok for me to steal $100 from the company since I make $30K a year… after all it’s only a small fraction of my net worth. Get your head examined.
Scumbag is being polite to Hurd.
HP is the only company I have ever worked for where I make less than I did on the day I was hired thanks to Mark Hurd’s cost savings. Tens of thousands of people lost their jobs and he rakes in millions in bonuses. His $12.2 million in severance comes directly out of the pockets of HP employees.
Hurd is one of the biggest thieves imagineable and is still being rewarded for it. That is his only talent. Wake up.