Electronics Production | September 08, 2010
HP sues ex-boss Mark Hurd
The move by Mark Hurd to HP's competitor Oracle has caused some trouble. Hewlett-Packard has sued his former boss.
The company is concerned that he might betray corporate secrets to the competitor. Mark Hurd is said to have signed a confidentiality agreement (validity period of 2 years). In return he received around EUR 27 million in compensation, writes the Wall Street Journal. In August, the HP-boss had to resign from his post over reports handing in falsified expense claims and concealing a relationship with a former contractor. (evertiq reported). Oracle and its CEO Larry Ellison issued the following statement: "Oracle has long viewed HP as an important partner. By filing this vindictive lawsuit against Oracle and Mark Hurd, the HP board is acting with utter disregard for that partnership, our joint customers, and their own shareholders and employees. The HP Board is making it virtually impossible for Oracle and HP to continue to cooperate and work together in the IT marketplace."