14 DAY TRIAL // Just a short while ago, Oracle announced that it was hiring Mark Hurd, former HP CEO, as co-president, but HP is not at all pleased with this turn of events, which is why it filed a civil complaint against him.
About a month ago, HP fired its CEO Mark Hurd following investigations into alleged sexual harassment.
Said investigations ultimately found nothing, but the company still let Hurd go, paying him a number of million dollars in the process.
Now, however, Hurd signed on with Oracle for the job of co-president, the company hoping that his expertise will allow its hardware business, especially on the server side, to grow.
HP, however, was not at all happy to learn of this, so it filed a civil complaint against him immediately after Oracle made the announcement.
HP accused its former Chief Executive officer of a breach of contract and that he is putting HP's trade secrets at risk.
“Despite being paid millions of dollars in cash, stock and stock options in exchange for Hurd’s agreements to protect HP’s trade secrets and confidential information during his employment and following his departure from his positions at HP as Chairman of the Board, Chief Executive Officer, and President, HP is informed and believes and thereon alleges that Hurd has put HP’s most valuable trade secrets and confidential information in peril,” the complain reads.
“Hurd accepted positions with Oracle Corporation (“Oracle”), a competitor of HP, yesterday as its President and as a member of its Board of Directors. In his new positions, Hurd will be in a situation in which he cannot perform his duties for Oracle without necessarily using and disclosing HP’s trade secrets and confidential information to others,” the company added.
Considering that Oracle was likely aware of the fact that HP may take such a move, it will be interesting to see how things develop.