And there was Joy in Mudville

This day is probably the happiest day in the life of so many people. Big Fuck You to Mark the Butcher. Too bad they let him resign instead of just firing him.

$17M ?????

This b*****d has been milking a lot more than that. Normally $40M+.

Good to see that after shafting everyone below executive level he has copped it big time.

Anon for obvious reason.

What was it like this time?

I was in the HP premises in Bristol at the time of the announcement of Carly's departure. There was an astonishing outburst of cheering and applause. Someone had a trumpet and played something - I can't remember what.

The overall feeling was summed up in Ding Dong the Witch Is Dead. Hurd was seen as 'mostly harmless' at the time.

i hear Bob Moffat is available

Boards need to quit hiring cfo's who only cut costs to do the job of CEO's

I'm in the wrong job.

Give me $ 17m, plus shares. I'll resign immediately after sexually harassing anyone!*

* except Mrs Bee. I'm not so stupid to risk that, I'd prefer to keep whatever parts still work firmly attached.

Whoo hoo!

What's HP's tag line... Outcomes that matter... In this case never more true...

Culture @ HP

Good riddance to him.

He was blinded by greed, and it was his undoing.

The most unfortunate thing is that the culture of greed at the top of the organisation will be hard to change, a culture fostered by Hurd.

Oh Dear! "compensation... no justified business reason", "improper expense reports"

Hated him with a passion.

Goodbye shithead, hope they do you for something :-)

"compensation although there had been no justified business reason, and improper expense reports had been submitted by Hurd."

Lots of people will be smiling this morning.

LOL

They got the bastard.

At last, some justice (if you ignore the reported $40M golden handshake). This slimey sleazebag has been found out - shagging a minion and fiddling his expenses to cover his tracks. This is the last in a long line of dodgy goings-on at HP under his tenure - the phone tapping scandle ("I knew nothing about it!"), the Russin contract scandle ("I knew nothing about it!"), and several other less than honest incidents ("I knew nothing about it!"). The shafter gets shafted.

I just hope this low-life gets hounded through the courts for his actions - well I can dream, can't I?

Anonymous for obvious reasons.

I'm sure his $12m severance payment

will go some way towards easing the pain

Moral hazard anyone?

Amazing, the guy engages in the kind of creative acounting with regard to expenses that would get any ordinary employee fired on the spot with no notice or references and he gets to resign and gets how much....? I have to assume that the reason why his type do not get sacked even when caught bending is that far too many top managers and directors think (in their heart of hearts) "there but for the grace of God go I". In not dealing with him they are protecting themselves.

Integretity minute

After having to watch those god awful integrity minute videos at work I hope they will have integrity minute CEO edition ones added for his replacement.

The announcement was the last thing to come into my mailbox on my way out the door for the weekend and it really made my week.

Steve Ballmer with horns case they were out of Mark "The Lecherous Butcher" Hurd.

Handshake

So why does he get a $50m payoff when he defrauded the company? That's a fine example to set...!

Bye Bye - I'll fetch your coat

£17m? Try $42m in 2008!

The world's greediest autocrat, sorry multi-tasker (President, CEO & Chairman) has gone. The fact that it the allegations include his having made financial mistakes is just the icing on the cake.

I never thought that Mark Hurd would do anything to make me feel like I couldn't wait to get back to work on Monday.

I stand corrected.

Ouch

Why did he make the company pay for her?

You can do that if you own the company.

But a CEO is basically only an employee. 17 million per year or not.

Too bad - he probably feared his spouse was not "tolerant" enough to pay his mistress himself.

WOW

Reading the comments here about Hurd, makes me fall to my knees in thanks that I don't work for HP. To be so universally despised I am simply lost for words.

He was fired for a $200 dinner with a tradeshow girl

You cannot justify a falsified expense report even if your secretary accidentally put it in and put the wrong name on the date.

It makes business sense to set an example of defrauding $200 for dinner and paying him $50 Million in severance.

Obviously the board finally started talking to the employee's and found out that everyone hates the "New HP" and got screwed by Mark. I don't think IBM gives everyone a pay cut...I even heard they still have yearly raises....just not what they used to be given the economy.

I wish I would have been spun off to Agilent...I heard they are buying IBM Power systems now and were part of the Power7 announcement.

EDSer keeping a low profile as I work on the outsourced IBM gear for a Fortune 100.

Party time

fucking YES!

Best thing that could have happened to this company!

Muahahahahahahaaaa!

Imagine having that much money, and still being so utterly unattractive you have to pay for it.

Champagne was the only way to celebrate this news :-)

The fact that he "volunteered" a paycut on the employees, cut training, employee programmes, etc, and basically decimated the workforce but still found it acceptable to walk away with ~$42million (in 2008) was evidence that Hurd was immoral and basically a thief!

The fact that he was stupid enough to prove this to the world in such clichéd and scandalous fashion is just icing on the cake :-)

As much as I don't like to wish ill on anyone, I'd love to be a fly on the wall when he tries to explain this away to his wife (a divorce lawyer, I've heard??) - looks like those millions will soon be half-millions!!

You couldn't have dreamed up a better or more comical end to this guys reign of misery at HP.

Good Riddance!!!

LOL!

17m per year...but...

Damn, weren't they paying him enough that he could afford to pay for kept women out of his own personal income? Lame.

(Yes, I know she denies it. Duh.)

He is just another US CEO.

First=The woman concerned has been in the news saying she is sorry he lost his job.

The usually knee jerk reaction of the mass sedia - Sexual Harassment was just that, not factual

He got the sack for fiddling the expense account.

That is common practice over there, his mistake was not being cunning enough to get away with it.

The whole board of HP now are the usual bunch of American Corporate degenerates - it is not the decent firm it was during the time of Hewlett and Packard