News Corp. (NWSA:US), the media company controlled by Rupert Murdoch, named Hewlett-Packard Co. (HPQ:US) Chief Executive Officer Mark Hurd to its board, replacing former U.S. Education Secretary Rod Paige.
The appointment is effective immediately, News Corp. said in an e-mailed statement today. Hurd, 51, has been Hewlett-Packard's CEO since 2005. Paige, who's been on the board since 2006, is resigning and will become a News Corp. consultant.
Under Hurd, Hewlett-Packard reclaimed the lead in worldwide personal-computer sales from Dell Inc. and increased revenue to more than $100 billion. His technology experience will help position News Corp. for growth online, Murdoch, the company's chairman, said in the statement. New York-based News Corp.'s Web sites include MySpace.com and wsj.com.
Hurd took responsibility for a probe into boardroom leaks at Hewlett-Packard that led the company to spy on directors and reporters. The 2006 scandal resulted in the resignation of the company's then-chairman, two directors and the general counsel.
News Corp. Class A shares, down 16 percent in the past year, fell 14 cents to $19.37 at 4:03 p.m. in New York Stock Exchange composite trading (2FA:US). Palo Alto, California-based Hewlett-Packard rose 25 cents to $42.88.
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