Dunn Out, Hurd In As HP Chairman

The company announced the transition Tuesday morning following deliberations by its board over the weekend and into last night. Dunn, a director who became chairman following the ousting of Carly Fiorona last year, came under fire this week for a probe by outside firms that obtained phone records of journalists and several board members. The records were allegedly obtained using pretexting by investigators allegedly posing as the individuals.

The investigation was ordered to determine who on the board was leaking information. HP is now being investigated by several government agencies, which it says it is cooperating with.

Dunn will remain a director, while Richard Hackborn will be lead independent director in January. Hackborn spent 33 years at HP and served as chairman in 2000. He also headed HP's PC business before retiring in 1993.