Hewlett-Packard Hires Spencer Stuart to Find Next CEO

Hewlett-Packard Co., seeking a new chief executive officer after the ouster of Mark Hurd this month, has hired Spencer Stuart Inc. to handle the search.

James Citrin, a managing director at Spencer Stuart, and Thomas Neff, the firm’s U.S. chairman, will lead the search, according to three people familiar with the matter.

The board asked for Hurd’s resignation after an investigation found he falsified expense reports to conceal a personal relationship with a marketing contractor, Jodie Fisher. Shares of HP, the top maker of personal computers, have dropped 11 percent since Hurd left on Aug. 6. He had led a turnaround at the Palo Alto, California-based company, more than doubling profit and using acquisitions to expand into new markets.

Read Full Article from Bloomberg

- Posted: 2010-08-18 21:52:52

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