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HP Says Strategy, Management Strong After CEO’s Exit

Aug. 8 (Bloomberg) -- Hewlett-Packard Co., seeking a new chief executive officer after the resignation of Mark Hurd, said the change won’t affect products or customer relationships and that the depth of management is the best in its history.

“One thing changed in this company on Friday, and that is our CEO left,” interim CEO Cathie Lesjak said today on a conference call. “Our management breadth and depth in the company is as strong as it’s ever been.”

Hurd resigned as CEO on Aug. 6 after an investigation found he had a personal relationship with a contractor who received numerous inappropriate payments from the company. Under his guidance, HP retook the top spot in the personal-computer market from Dell Inc. and embarked on an acquisition strategy that broadened its role in computer services, networking equipment and smartphones.

“There’s no question he did a very good job,” Lesjak said, referring to Hurd. “But he doesn’t do everything. He was one person.”

She reiterated today that she likes serving as the company’s chief financial officer and plans to stay in that role.

“We are looking for a strong candidate who can effectively lead the great employees of this company into the next phase of growth and success,” she said, adding that the company has a “talented employee base” of more than 300,000 workers.

Hurd’s departure also won’t affect HP’s product rollout, Shane Robison, chief strategy and technology officer for the Palo Alto, California-based company, said on the call.

To contact the reporters on this story: Aaron Ricadela in San Francisco at aricadela@bloomberg.net; Nancy Moran in New York at nmoran@bloomberg.net

To contact the editor responsible for this story: Thomas Giles at tgiles5@bloomberg.net

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