Friday is a great day to dump the garbage which is why HP announced Mark Hurd was stepping down under a cloud of scandal while guiding revenue upwards after the market closed.
What with the press looking to enjoy their weekend too the quick fix of some commentary on HP’s spin control offensive will mean Hurd will drop off the radar quickly. I’m sure the Forbes and Fortunes of the world will go looking for the red meat but that’ll show up months from now when Hurd is a distant memory and will have a few quotes of wistful regret.
If it were I positioning this I’m positioning that next week is the start of “The Search”. Hurd’s relationship with a contractor was last week’s story why would you focus on that when instead you can watch CEO Idol play out in front of you?
This industry and it’s watchers love speculation, indulging in some of the most brain damaged fantasies it’s watchers can imagine so guessing who’s going to land in the big chair at HP is the bigger story in the long run.
What did I think of Hurd’s tenure? I think he reaped the rewards of HP’s acquisition of Compaq and knew when the wind was at his back. HPQ was a blockbuster deal that looked like a wreck while people were living it but is what awakened the slumbering giant that was HP.
It was the right deal.
It was a Rubicon crossed which allowed Hurd to engage in other mega-mergers without fear of HP choking to death. Going after EDS must have appeared pain free to the HP Board after what they had been through already.
EDS also looks like a mess right now but I think the next CEO will reap it’s rewards.
Looking backwards at it now HP-Compaq worked in a way that a mega-merger in the same decade such as Symantec-Veritas didn’t. HPQ was chaotic but stronger when a steadying hand grasped the wheel, Symantec-Veritas on the other hand looked orderly but was critically wounded and continues to diminish even to this day.
Hurd also was allowed skate away from the Reporter bugging scandal even after it was shown he approved the contents of the information leak to be transmitted with the malware HP planned to infect Reporters machines with.
At the time HP Chairwoman Patricia Dunn was offered up by the Board as the sacrifice while Hurd apologised to the crowd and left before her execution. The twist being most of the malware never did anything since the Mac using reporter masses was immune to it’s Windows only charms.
On balance as an employee of the stockholders he returned tremendous value to them and earned his salary. But as a man he was as flawed as anyone.
I can’t condemn him for having an affair, we don’t know what goes on inside the Hurds marriage nor should we but he filed false expense reports to cover an affair he was having, cost shareholders Billions when the stock dived on news of his termination and I just couldn’t stomach how clearly he was shielded by more powerful forces during the bugging investigation.
The fact he was the steadying hand on the wheel of HP’s great ship shouldn’t have negated the visibility of the ethical flaw at the centre of his thought process. He conspired to commit fraud twice in five years.
What type of man, paid $24,201,448.00 in 2009, decides it’s a good idea to bill the company for the hotel rooms of the woman he’s having sex with? He could have paid for those rooms out of his own pocket and would still have a job if he did.
It is this flaw in his character which fractured and destroyed him.