HP hires firm to lead search to replace Hurd

Executive recruitment company appointed

Hewlett-Packard has hired executive search firm Spencer Stuart to lead its bid to find a replacement for Mark Hurd.

The Chicago-based company will lead a committee that also includes Marc Andreessen, Lawrence Babbio Jr and Joel Hyatt, HP said in a statement.

The committee will consider both internal and external candidates to "identify a CEO with the right leadership qualities to move HP into the next phase of growth".

The company said it will not comment further on the search until it is ready to name a new CEO.

An investigation by HP found that Hurd had a personal relationship with actress Jodie Fisher that he hid from the board of directors and that he had made payments to her for events that never took place. While the board did not find any violation of HP's sexual harassment policy, it did discover that Hurd was reimbursed by HP for the payments to Fisher through his expense reports.

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