Hewlett-Packard chief executive Mark Hurd resigned on Friday amid an inquiry into sexual harassment, the blue-chip computer firm said.

“Chief Executive Officer and President Mark Hurd has decided with the board of directors to resign his positions effective immediately,” the company said in a statement.

HP had brought in outside counsel to investigate allegations that Hurd had violated HP’s sexual harassment policy in his dealings with a former marketing contractor.

The probe found that Hurd had not broken harassment rules, but was in breech of “HP’s standards of business conduct”.

“I realised 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.

“This is a painful decision for me to make after five years at HP, but I believe it would be difficult for me to continue as an effective leader at HP and I believe this is the only decision the board and I could make at this time.”

Company officials said Hurd had made “inaccurate expense reports,” designed to hide the relationship.

His temporary replacement was named as current chief financial officer Cathy Lesjack.

HP stock price slumped almost 10 percent in after-hours trading on the news.