HP Plans Independent Investigation Into Hurd Exit

Hewlett-Packard is planning to launch an independent investigation into the departure of former CEO Mark Hurd, a recent court filing has shown.

Hurd, now co-president at Oracle, left after an internal investigation into sexual harassment allegations made by former marketing contractor Jodie Fisher - of which the board found no evidence - uncovered inaccurate expense reports.

According to the 14 January filing, published in full by Cnet, the probe will be led by directors who joined the board after Hurd’s departure, aided by outside lawyers, and will investigate "the circumstances surrounding the departure of Mark Hurd and the board's decision to approve the separation agreement between HP and Mr Hurd".

The findings will later be reported to the board.

The investigation comes in response to a shareholder lawsuit that claims HP wasted company money by awarding an “unreasonable and grossly excessive severance” on his resignation.

Estimates put Hurd’s separation agreement at around $40 million in cash, stock and options, Reuters reports.