Hewlett-Packard (HP) Co’s former chief executive officer Mark Hurd has reached a legal settlement with the woman who accused him of sexual harassment, and she has also agreed to release HP from legal claims, according to sources familiar with the matter.
The world’s No. 1 computer maker stunned Wall Street and Silicon Valley on Friday by announcing Hurd’s resignation, accusing him of falsifying expense reports to conceal a “close personal relationship” with a female contractor.
The unidentified woman told HP’s board in June that Hurd had sexually harassed her, but an investigation found no violation of the company’s sexual harassment policy, HP said.
The contractor, who did marketing work for HP from 2007 to last year, did not have sexual relations with Hurd, according to her lawyer Gloria Allred, a high-profile attorney who often works with celebrity clients.
“Mark has settled the matter with the woman,” said one source who was briefed on the matter.
This person said the settlement included a payment, but the amount was not disclosed.
Another source with knowledge of the matter said HP was given a “release” by the contractor, and that the company had not paid her any money. This person also said Hurd had settled the matter. Both sources spoke on condition of anonymity.
Allred declined to comment.
According to sources, the contractor helped plan, market and host events for the office of the CEO. She made the sexual harassment charges on June 29 in a letter addressed to Hurd that came to his office.
The board then ordered an investigation, which found inaccurate expense reports filed by Hurd or on his behalf, and instances where the contractor received compensation for no legitimate business purpose, HP has said.
Hurd said in a statement on Friday that he had not lived up to his own standards of integrity. Hurd offered to reimburse the company for the expenses, which amounted to no more than US$20,000 over a two-year period, the source said.
News of Hurd’s resignation sent HP shares plunging 10 percent as he was one of the most respected executives in Silicon Valley. Chief financial officer Cathie Lesjak will take over while HP looks for a permanent CEO.
Hurd, who received nearly US$100 million in compensation over the past three years, will get a severance payment of US$12.2 million from HP.
DEMOGRAPHICS: Robotics is the most promising answer to looming labor woes, the long-term care system and national contingency response, an official said Taiwan is to launch a five-year plan to boost the robotics industry in a bid to address labor shortages stemming from a declining and aging population, the Executive Yuan said yesterday. The government approved the initiative, dubbed the Smart Robotics Industry Promotion Plan, via executive order, senior officials told a post-Cabinet meeting news conference in Taipei. Taiwan’s population decline would strain the economy and the nation’s ability to care for vulnerable and elderly people, said Peter Hong (洪樂文), who heads the National Science and Technology Council’s (NSTC) Department of Engineering and Technologies. Projections show that the proportion of Taiwanese 65 or older would
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it is building nine new advanced wafer manufacturing and packaging factories this year, accelerating its expansion amid strong demand for high-performance computing (HPC) and artificial intelligence (AI) applications. The chipmaker built on average five factories per year from 2021 to last year and three from 2017 to 2020, TSMC vice president of advanced technology and mask engineering T.S. Chang (張宗生) said at the company’s annual technology symposium in Hsinchu City. “We are quickening our pace even faster in 2025. We plan to build nine new factories, including eight wafer fabrication plants and one advanced
‘WORLD’S LOSS’: Taiwan’s exclusion robs the world of the benefits it could get from one of the foremost practitioners of disease prevention and public health, Minister Chiu said Taiwan should be allowed to join the World Health Assembly (WHA) as an irreplaceable contributor to global health and disease prevention efforts, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said yesterday. He made the comment at a news conference in Taipei, hours before a Taiwanese delegation was to depart for Geneva, Switzerland, seeking to meet with foreign representatives for a bilateral meeting on the sidelines of the WHA, the WHO’s annual decisionmaking meeting, which would be held from Monday next week to May 27. As of yesterday, Taiwan had yet to receive an invitation. Taiwan has much to offer to the international community’s
RSS