PALO ALTO, CA -- Hewlett-Packard chief executive and president Mark Hurd, credited by many for the computer giant's turnaround, has resigned after an in-house investigation found violations of company conduct standards.

The investigation was prompted by a sexual harassment claim against him and HP by a former contractor, according to the company. That claim proved unfounded, the company said. However, the PC OEM found Hurd had violated certain undisclosed business practices, although Hurd in a statement said the matters were not financial in nature.

"As the investigation progressed, I realized there were instances in which I did not live up to the standards and principles of trust, respect and integrity that I have espoused at HP and which have guided me throughout my career," Hurd said in a statement released by the company. "I will move aside and the board will search for new leadership."

HP named chief financial officer Cathie Lesjak interim CEO. She said she is not a candidate for the permanent position.

In his five years at HP, Hurd remade the company, which was listing in the wake of its former head, the flamboyant but utterly ineffective Carly Fiorina. Fiorina also left after an internal scandal found her involved in an eavesdropping effort that targeted H-P's own board. Prior to HP, he spent 25 years at NCR.

"The board deliberated extensively on this matter," said director Robert Ryan in the company statement. "[Hurd] has worked tirelessly to improve the value of HP, and we greatly appreciate his efforts. He is leaving this company in the hands of a very talented team of executives."

Ed.: The company statement is here.

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