Palo Alto, Calif. – Shares of HP (NYSE: HPQ) fell more than 7% on
Monday, three days after Mark Hurd resigned as the company’s chairman,
president and CEO following an internal investigation into the possible sexual
harassment of a female contractor. Though the investigation found no violation
of HP’s sexual harassment policy, the company said that it did uncover
violations of its standards of business conduct.
The board has named CFO Cathie
Lesjak, a 24-year HP veteran, as interim CEO.
Hurd’s problems reportedly began
in June, when the company received a letter alleging sexual harassment from a
woman who over the weekend identified herself as Jodie Fisher, an actress who
had appeared several racy "R"-rated movies during the early 1990s, as
well as the NBC reality show, "Age of Love."
In a letter released by
her lawyer, Gloria Allred, Fisher wrote, "I was surprised and saddened
that Mark Hurd lost his job over this. That was never my intention."
meanwhile, has formed a search committee to find Hurd’s replacement.