Re: Out with Hurd, in with OpenVMS

Looks like the accountant who temporarily heads HP realised her gaffe in
so quickly suing Hurd:

http://news.xinhuanet.com/english2010/world/2010-09/21/c_13522119.htm

##
SAN FRANCISCO, Sept. 20 (Xinhua) -- Hewlett-Packard Co. (HP) and Oracle
Corp. on Monday announced that they have resolved a litigation regarding
Oracle's hiring of Mark Hurd, the former CEO of HP.

"While the terms of the settlement are confidential, Mr. Hurd will
adhere to his obligations to protect HP's confidential information while
fulfilling his responsibilities at Oracle," the two companies said in a
joint statement.

Hurd resigned on Aug. 6 following an investigation into claims of sexual
harassment brought up by a former HP contractor.

Oracle announced on Sept. 6 that Hurd has joined the company as
co-president and has been named to its board of directors.

HP then sued Hurd in an attempt to block him from taking the Oracle job,
claiming that Hurd is violating agreements designed to protect HP's
trade secrets and confidential information.

While announcing the resolution of the lawsuit, HP and Oracle executives
also reaffirmed their commitment to long-term strategic partnership
between the two Silicon Valley companies.

"HP and Oracle have been important partners for more than 20 years and
are committed to working together to provide exceptional products and
service to our customers," Cathie Lesjak, chief financial officer and
interim CEO of HP, said in a statement.

"Oracle and HP will continue to build and expand a partnership that has
already lasted for over 25 years," said Oracle CEO Larry Ellison.
##


Other news agencies report that Hurd agreed to give up about $15 million
in severance (optiosn to buy HP shares).

Ellison's threats about the importance of the Oracle-HP relationship
likely resonnated at the HP board. It was a silly and premature lawsuit
to begin with. A lawyer,s letter reminding Hurd of his obligations under
the NDA he signed would have sufficed for now.


.

Relevant Pages

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