HP files against former CEO Hurd over Oracle Hire 20
Oracle's CEO may have thought he was doing his pal Mark Hurd a solid by hiring him on as Co-President after HP dumped him, but HP isn't taking too kindly to it. They've filed a civil complaint against Hurd, arguing that there's no way that the ex-CEO could work for Oracle without disclosing the trade secrets he has picked up at HP. The two companies are direct competitors, after all, and HP also notes that they weren't exactly stingy with his severance package:
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.
Who's got popcorn?
Source: HP Data Central