SEC Digging into Hurd's Departure from HP

Lora Bentley

Like my colleague Rob Enderle said last month, the Mark Hurd-HP saga could be called "the drama that never ends." Bloomberg reported Tuesday the Securities and Exchange Commission has launched a probe into Hurd's departure from the company.

 

When the HP board of directors pushed Hurd out of his post as CEO, they indicated he had lost their trust by engaging in an inappropriate relationship with a contractor, and not much else was said. Then, in November, Rob was among those who suggested the real impetus was the board's perception that Hurd had leaked confidential information about HP's purchase of EDS. And now the SEC wants more information.

 

Along with determining whether Hurd did leak information on the EDS acquisition, the SEC is also looking at his handling of expense reports and whether he destroyed evidence of the activities leading to his ouster, Bloomberg reports.

 

HP spokesperson Mylene Mangalinden only confirmed that HP is cooperating with "an SEC investigation."



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