Sex-Harass Probe Brings Down HP CEO

Hewlett-Packard CEO Mark Hurd is stepping down following a sexual-harassment probe that found other violations of company standards, HP said today. Hurd decided to leave after the investigation into a sexual-harassment claim made against him and the company by a former HP contractor, according to the firm. The probe found the company's sexual-harassment policy was not violated, but its standards of business conduct were.

In a statement, Hurd said that 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." He added that he believed it would be "difficult to continue as an effective leader at HP." CFO Cathie Lesjak will step in as interim CEO but has decided not to be considered for the position of permanent CEO, the company said.