CEO Hurd responds to spy scandal with HP ad
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Piling it on HP today released a message from CEO Mark Hurd that vaguely addresses the company's ongoing spy scandal. The missive serves more as an advertisement than a real confrontation with the issues affecting HP.â¦
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A photo featuring Mark Hurd, HP chairman, chief executive officer and president, as he updates media today on the actions HP (NYSE:HPQ)(Nasdaq:HPQ) is taking to address issues regarding the investigation of leaks from HP's boardroom, is available on Business Wire's web site and AP PhotoExpress.
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In an advance copy of his Congressional testimony released by a House Subcommittee on Wednesday, Hewlett-Packard chief executive officer (CEO) Mark Hurd blamed the scandal that has besieged his company on "a rogue investigation" that got out of hand.
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By Michelle Quinn, San Jose Mercury News, Calif.  Sep. 12--Mark Hurd, chief executive of Hewlett-Packard, finds himself perhaps in the most awkward position among all the figures in the HP boardroom spying drama.
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Disclosures by Hewlett-Packard Co. chief executive Mark V. Hurd that he failed to read a report addressed to him about the company's spying investigation are prompting governance experts to ask why the company board yesterday handed Hurd more responsibility.
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Hewlett-Packard Chief Executive Officer (CEO) and President Mark Hurd confirmed on Friday that he approved a probe of HP employees, board members and journalists in an effort to find out who on the HP board was leaking confidential information outside of the company.
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PALO ALTO, California  - Hewlett-Packard   Co.HPQ.N Chairman Patricia Dunn resigned as a director on   Friday as the embattled computer maker unveiled new details of   the boardroom leak probe, including the role of chief executive   Mark Hurd.
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Like a good friend who has just gotten out of a terrible relationship, Hewlett-Packard seemed to be on the rebound and all the happier for it in recent months. After the departure of controversial CEO Carly Fiorina, the company has as of late shown newfound confidence and focus under new CEO Mark Hurd. But allâs still not well in the higher echelons of HP, as revealed in a filing the company made to the U.S. Securities and Exchange Commission.
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HP CEO Mark Hurd plans to answer questions from reporters on Friday regarding the ongoing HP controversy involving spying on journalists, board members and employees.
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(InfoWorld) - IT investors had a mixed bag of news to digest this week, in the wake of Hewlett-Packard Co.'s boardroom spy scandal, and Xerox Corp.'s annual pilgrimage to New York to woo the Wall Street crowd. It's a measure of HP Chief Executive Officer Mark Hurd's success so far that the company has not been harder hit by theÂ boardroom spy scandal, in which outside investigators hired by the board used allegedly illegal means to spy on employees, board members and reporters. In order to smooth things over, Hurd will replace Dunn in January and retain his CEO title. The spying was sparked by leaks to the press, which ironically included information on discussions that led to the firing of former CEO Carly Fiorina. It's ironic because under Hurd, the company's takeover of Compaq Computer Corp. -- a controversial acquisition engineered by Fiorina -- seems to be paying off. Hurd has reorganized the company to cut costs, and HP is gaining PC market share and growing almost as fast as its archrival in that market, Dell Inc. Since HP is much larger than Dell, that growth is remarkable. Much of it is the result of reorganized company logistics, supply-chain management, inventory control, as well as a continued push on the product front. The spy scandal has not implicated Hurd, and that's a good thing. Company shares did take a hit after Tuesday's disclosure by the California state attorney general on The NewsHour with Jim Lehrer that he had enough evidence to charge HP officials. Still, shares (HPQ) closed Thursday at $36.25, about where they were right before the scandal broke last week. The share price is still up 3.12 percent for the month and 31.81 percent for the year. As long as Hurd is not implicated in the scandal, the company seems poised to continue its run, even if Dunn or other board members are indicted. Of the seven major brokers changing their recommendations on the company this year, all but one have been to upgrade their recommendations -- the one exception was before the scandal. Meanwhile, HP's archrival in printers, Xerox, is having a hard time gaining traction in the market. The company made its annual pitch to Wall Street last week in a series of product and services rollouts. The consensus among analysts appears to be that CEO Anne Mulcahy is making all the right moves: slimming down the company, integrating and expanding services, keeping up pressure on rivals in the small and medium-size business market, and keeping its lead on the high-end production market. But share price was not affected by her pitch to Wall Street. Shares (XRX) closed Thursday right where they were on the last day of her pitch last Friday, at $14.90. "The strategy is there, but Wall Street wants to see more growth," noted IDC analyst Keith Kmetz. Various competitors including Asian manufacturers have "nibbled away" at the low end of the market, Kmetz said, but Xerox still has a command position in the production market and is strong in the market for office color printing and multifunction devices. Only HP can claim to rival Xerox in the full scope of products and services. But growth is tepid. Xerox second quarter revenue rose to $3.98 billion from $3.92 billion last year. The message from company executives appears to that Xerox will be able to achieve growth rates experienced by HP as services grow nearer to 50 percent of company revenue. But as Mulcahy told IDG, "whether that will be in three, or five years, I can't say."
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SAN JOSE, Calif. _ Mark Hurd, chief executive of Hewlett-Packard, finds himself perhaps in the most awkward position among all the figures in the HP boardroom spying drama.
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(InfoWorld) - In an advance copy of his Congressional testimony released by a House Subcommittee on Wednesday, Hewlett-Packard chief executive officer (CEO) Mark Hurd blamed the scandal that has besieged his company on "a rogue investigation" that got out of hand. "How did such an abuse of privacy occur in a company renowned for its privacy? The end came to justify the means," Hurd wrote. "The investigation team became so focused on finding the source of the leaks that they lost sight of the privacy of reporters and others. They lost sight of the values HP has always represented." Former HP Chairman Patricia Dunn , forced to resign Sept. 21 because ofÂ the scandal,Â defended in her testimony her decision to investigate the leaks of confidential board discussions to the news media. Both are among several witnesses expected at a hearing before the Oversight and Investigations Subcommittee of the House Energy and Commerce Committee on Thursday in Washington. The committee is looking into the practice of "pretexting," or using false pretenses to gain access to confidential records. Investigators hired by HP to find the source of leaks engaged in pretexting to get hold of the phone records of directors, HP employees and reporters who cover the Palo Alto, California, technology company. Although much of the criticism of the scandal surrounds the tactics used by the investigators, Dunn wrote in her testimony that equal consideration should be given to the leaks from within the company that damaged HP. HP's board was notorious for its leaks to news media and that such disclosures made it difficult for the board to deal with important issues candidly, she wrote. "I wish fervently that none of this had ever happened," Dunn wrote in her testimony. "But boards have an unquestionable obligation to take steps to prevent [leaks]. That certain steps taken during the investigation went well beyond what was appropriate does not undermine the importance of the board's mission in this matter."ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.
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Two Michigan Democrats want Mark Hurd to explain why he sold stock just before HP's controversial spying operation became public.
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SAN FRANCISCO -- The congressional panel investigating Hewlett-Packard Co.'s boardroom spying probe has demanded that CEO Mark Hurd explain $1.37 million worth of options he exercised just before the scandal became public, two congressmen said Wednesday.
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(InfoWorld) - A spokesman from the California attorney general's office Friday said that Attorney General Bill Lockyer at this point does not have any evidence to charge Hewlett-Packard Co. (HP) Chief Executive Officer and President Mark Hurd with a criminal offense in the ongoing investigation intoÂ HP's probe of journalists and board members. However, Thomas Dressler, a Lockyer spokesman, said that Lockyer and his office are still in the middle of an investigation, so it does not mean Hurd is in the clear yet. "The key words are 'at this point,'" he said Friday. "We're not ruling anyone out in terms of criminal culpability. We have much more work to do, many more documents to review, more people to interview." The probe could have serious consequences for HP as evidence continues to surface that investigators not only used pretexting -- or obtaining phone records under false pretenses -- but also physical surveillance and e-mail tracking software that was placed on at least one target's computer without her knowledge to gather information. HP has acknowledged that it undertook an investigation of employees, board members and journalists, in an attempt to find out who on the HP board was leaking information. A report in The Washington Post Thursday cited e-mail that indicated Hurd knew about details of the investigation, and HP's share price began falling after reports that suggested he approved elaborate spying tactics to obtain reporter information. Patricia Dunn, HP's chairman, already has agreed toÂ step aside as chairman in January in the wake of the scandal, and two others also have resigned from the board. Hurd will take over as chairman of the board when Dunn leaves, though she will remain on the board. Hurd is expected to speak publicly for the first time about the scandal in a press conference at 4:05 p.m. Eastern Standard Time. According to HP spokeswoman Emma Wischhusen, Hurd will not field reporter questions, but will make only prepared comments. A representative from a law firm representing HP, Morgan, Lewis & Bockius LLP, also will speak at the press conference. Â
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HP CEO Mark Hurd knew of plans for a disinformation campaign designed to find the source of leaks from boardroom talks, The Washington Post reported today.
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Hewlett-Packard Co. HPQ.N Chief   Executive Mark Hurd will testify to a House subcommittee on the   company's leak probe, HP said on Thursday, hours after the   panel's top Democrat said he should appear at a hearing.