Hewlett-Packard Co. ousted CEO Mark Hurd on Friday for falsifying expense reports and other documents to conceal a secret relationship with a former contractor and help her get paid for work she didn't do. Until the 53-year-old abruptly resigned, sending HP's stock tumbling after hours, he had a nearly bulletproof reputation on Wall Street. During his five-year stewardship of the world's biggest maker of personal computers and printers, its stock price had doubled, boosting its market value more than $40 billion and it became the world's No. 1 technology company by revenue. HP said Hurd was forced out after the company discovered he had a relationship with a woman who worked with HP on marketing matters. The company said he falsified expense reports and other financial documents to conceal the relationship and help get the contractor paid for work she didn't do. But the company said its internal probe found Hurd didn't violate its sexual harassment policy. High-profile Los Angeles attorney Gloria Allred said she is representing the woman and “there was no affair and no intimate sexual relationship” between her client and Hurd. Allred, reached by The Associated Press late Friday, declined to comment further. The allegations were first disclosed Friday, though the company learned of them several weeks ago. Hurd said it was a “painful decision” to leave but acknowledged 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.” He will get a $12.2 million severance payment. HP said it became aware of the relationship several weeks ago when the former contractor accused Hurd and the company of sexual harassment. An investigation found that HP's sexual harassment policy wasn't violated but that its standards of business conduct were. — — — — — — — — — — — — SR — — — — — — — — — — – At least stock prices doubled while he was in charge. Unlike his predecessor Carly Fiorina who walked away with a $21.4 million severance package in 2005 after stock prices Fell 50% added by: Stoneyroad
