HP files lawsuit against ex-CEO over Oracle Hiring

HP LogoHP has announced that it is suing its ex-CEO, Mark Hurd, for potential leakage of trade secrets to Oracle. The civil complaint was filed in California Superior Court today.  

Here is HP’s statement on the proceedings:

“Mark Hurd agreed to and signed agreements designed to protect HP’s trade secrets and confidential information.  HP intends to enforce those agreements.”

Here is a brief snip-it from the introduction of the filling:

“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.”

Nearly one month ago, Mr. Hurd resigned from his position as CEO at HP, a position he held for five years. During that period, the company’s annual revenues and net earnings increased steadily. The move was highly criticized by many, including Oracle CEO Larry Ellison, who had this to say about the decision:

 “The HP Board just made the worst personnel decision since the idiots on the Apple Board fired Steve Jobs many years ago. That decision nearly destroyed Apple and would have if Steve hadn’t come back and saved them. HP had a long list of failed CEOs until they hired Mark who has spent the last five years doing a brilliant job reviving HP to its former greatness”