Tech Ticker

The world’s largest PC maker got one of the biggest shocks in its corporate history when Mark Hurd resigned as the CEO of HP. The resignation, though seemed was due to the sexual harassment accusation from the contractor but HP says Hurd’s resignation is due to falsifying of expense reports.

The HP board that initiated an inquiry found that Hurd didn’t violate HP’s sexual harassment rules but violated company’s business standards by submitting inaccurate expense reports.

HP says the submitted report failed to mention that Hurd had a “close personal relationship” with the contractor.

Meanwhile, Wall Street Journal is also reporting that Hurd has struck a settlement between the contractor and have reportedly paid the settlement money by himself.

Cathie Lesjak, HP’s CFO has been appointed as an interim CEO until a replacement is found.

[Via WSJ]