HP announced the immediate resignation of its CEO Mark Hurd. He will be replaced on an interim basis by CFO Cathie Lesjak. The CEO's deaprture follows accusations of sexual harassment against Hurd and HP by a former contractor to HP. While an investigation found there was no violation of HP's sexual harassment policy, it did find violations of HP's Standards of Business Conduct. HP has set up a committee to lead the search for a new CEO; it will look at both internal and external candidates. HP also announced preliminary results for the third fiscal quarter to July, with revenue up 11 percent to USD 30.7 billion and EPS of USD 0.75. Profits includes a 2 cent charge for the company's settlement with the US Department of Justice settlement. For the fourth fiscal quarter, HP forecast revenue of USD 32.5-32.7 billion and EPS of USD 1.03-1.05. For the full year, HP now expects revenue of USD 125.3-125.5 billion and EPS of USD 3.62-3.64, including charges of USD 0.87 per share for restructuring, amortization of purchased intangibles and acquisition-related charges. That's down from the company's outlook in May for EPS of USD 3.76-3.81.
