HP CEO Quits After Sexual Harassment Inquiry

The chief executive of Hewlett-Packard (HP) Mark V. Hurd has resigned his position following accusations of sexual harassment and the submission of forged expense claims.

HP initiated an internal inquiry on Hurd after a female contractor accused him of sexual harassment.

During the investigation, the company found that Hurd had submitted numerous falsified expense claims in order to keep his personal relationship under wraps, the Los Angeles Times has reported.

Reuters reports that he company has not yet found any evidence of sexual harassment, and that sources suggest Hurd has "settled the matter with the woman" for an undisclosed sum.

According to Michael Holsten, general counsel of HP, Hurd has violated and compromised the business standards of HP.

In a statement announcing his resignation, Hurd said: "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.”