Hewlett-Packard Co. is reported to have named Spencer Stuart Inc. MD as its new Chief Executive following the ouster of Mark Hurd this month.

As per three sources known with the matter, James Citrin, a Managing Director at Spencer Stuart and Thomas Neff, the firm's U. S. Chairman, will spearhead the Company.

Hurd was made to file for a resignation from the firm following an investigation that claimed that he presented superfluous expenditure reports in a bid to hide his personal relationship with a former H-P marketing contractor, Jodie Fisher.

In addition, Hurd is facing allegations of sexual harassment levied against him by Jodie Fisher. More details against the charges imposed emerged, which made difficult for him to defend himself.

The probe conducted into the matter found him as a culprit behind breaching HP's standards of business conduct, which consequently ended up in his ouster from his post of Chief Executive.

On the other hand, the Company is also reported to have named John Hammergren from the board of directors as the Chairman of the board's search committee. Marc Andreessen, Lawrence Babbio and Joel Hyatt had previously been named for the committee.

The shares in the Company, the top manufacturer of personal computers, have marked a slip by 11% since Hurd departed on Aug. 6.