A month ago, HP CEO Mark Hurd, resigned after a sexual harassment investigation, and just recently the same Mark Hurd was hired as the co-President at Oracle. HP, however, has a large issue with Hurd"s new position claiming that he agreed and signed documents to protect HP"s trade secrets and information.
HP is looking to enforce the agreements especially after Hurd was paid millions of dollars in a combination of cash, stocks, and stock options to protect HP"s trade secrets. HP has filed a civil complaint to the Superior Court of California against Mark Hurd.
The introduction to the complaint can be found on Scribd and it describes HP"s issue with Mark Hurd:
“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. 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.”
HP is looking to protect its trade secrets, rightfully so, and will do so at any cost.