HP chief defends company stock sale
From the Associated Press
Responding to a congressional inquiry, Hewlett-Packard Co. Chief Executive Mark Hurd said there was nothing devious about his decision to sell some of his holdings shortly before the Silicon Valley icon disclosed its role in a shady surveillance scheme that turned into a national scandal.
In a Dec. 21 letter publicly released Friday, Hurd depicted his Aug. 25 sale of 100,000 HP shares as a part of a prudent financial plan designed to “offset my sizable holdings of HP stock and options.” Hurd said his divestiture represented less than 5% of his stake in the Palo Alto-based computer and printer maker.
