Hurd’s Ouster May Lead To The Downfall Of HPQ

In an article on New York Times, Ashlee Vance said that the ouster of Mark V Hurd, Hewlett-Packard HPQ chief, was the result of his relationship with Ms. Fisher, who sometimes accompanied Hurd at CEO executive summit meetings as an HP marketing consultant. Hurd's ouster has not only put a sudden and unpleasant end to the one of the great executive runs in recent American business history, but has also cut short a search of stability and pride by HP’s employees. Ms. Fisher, who had accused Mr. Hurd of sexual harassment, clarified on Sunday, however, that she had never had a sexual relationship with the chief and was jolted and saddened by the loss of his job. She added that she had never intended this. While Mr Hurd has settled the matter with Ms Fisher for an undisclosed sum, HPQ’s top executives on Sunday said that they were determined to find a chief executive very soon so that business is not affected. However, it may not be easy to wipe the slate clean after the scandal. Although investors continue to have confidence in the company, Hewlett-Packard’s share price declined 10% on Friday as news of the departure of Mr Hurd spread through the market. Mr Hurd was being considered by analysts as a stabilizing force who stimulated the chaotic company and acted as the glue that held together more than 300,000 employees in the complex organization. The new HPQ chief will have to maintain fiscal discipline, while initiating plans to stimulate growth for the company. Read more from Benzinga's Markets. You Can't Afford To Miss Out On These Money Making Trading Ideas.