Hewlett-Packard Co. and former CEO Mark Hurd have settled their legal dispute over his decision to become co-president of rival Oracle Corp. HP announced Monday that it has dropped a lawsuit against Hurd under a settlement agreement that requires him to give up 346,030 shares of HP stock, or nearly $14 million, effectively waiving about half of his severance package. HP ousted Hurd on Aug. 6, citing expense account lapses discovered after a marketing contractor accused him of sexual harassment.
September 21, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Hewlett-Packard Co. and former CEO Mark Hurd have settled their legal dispute over his decision to become co-president of rival Oracle Corp.
HP announced Monday that it has dropped a lawsuit against Hurd under a settlement agreement that requires him to give up 346,030 shares of HP stock, or nearly $14 million (as of Monday’s closing price of $39.39), effectively waiving about half of his severance package.
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