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Hewlitt-Packard CEO Mark Hurd is out, resigning on August 6, 2010, in the wake of a sexual harassment probe against him and the company. According to the Associated Press, Hurd resigned after the investigation into claims that he harassed a former HP contractor. The AP says while investigators did not find that Hurd violated HP's sexual harassment policy, they did determine that there were "other violations of company standards." CNET's Erica Ogg quoted HP's General Counsel, Mike Holston, as saying that Hurd "was found to have filed inaccurate expense reports."

Hurd became HP's CEO and president in 2005 after the resignation of Carly Fiorina, who went on to a career in California politics. Hurd went on to become chairman of HP's board of directors in 2006. In a prepared statement, the 53-year-old Hurd said during the investigation he "realized 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."

Some analysts say Hurd's resignation is a blow to HP. One analyst told Bloomberg that Hurd's stepping down will "be a significant loss to the company in terms of operations."

HP Chief Financial Officer Cathie Lesjak will replace Hurd as the company's CEO until a permanent successor is found. According to HP, Lesjak "decided not to be considered for the position of permanent CEO."

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