The New York Times on Mark Hurd’s Ouster From HP

Ashlee Vance:

Sources close to the company and familiar with the situation said that over a number of months, the contractor attended events for H.P. in Asia, Europe and the United States, and often dined alone with Mr. Hurd after the events. The contractor’s fees ranged from $1,000 to $5,000 for events in the United States and up to $10,000 for overseas ventures. Even though the same contractor was present, Mr. Hurd said that he dined alone or with a different person on his expense reports, these people said.

But, curiously, both Hurd and the woman (who has not been named) claim the relationship wasn’t sexual:

Gloria Allred, the celebrity lawyer who has agreed to represent the woman, said, “We want to make clear that there was no affair and no intimate sexual relationship between our client and Mr. Hurd.”

Hurd — under whose leadership HP’s stock price has doubled since 2005 — didn’t want to go. He offered to reimburse the company for the disputed expenses, but the board refused.

Hurd’s severance package: $12.6 million in cash, and a boatload of stock options.

Saturday, 7 August 2010