Dunn has been under pressure to step down as chairman after it came to light last week that the board of directors carried out an investigation to determine who among the board leaked confidential information to journalists. The board admitted to the SEC that the internal probe involved "pretexting," where employees of an investigative firm hired by the company pretended to be reporters to gain access to their telephone records.

Federal authorities, including the U.S. Department of Justice and a congressional committee, are questioning the board's conduct in the probe and the California attorney general has said that charges are likely to be filed.

Hurd said Tuesday that the company hopes to put the current controversy behind it quickly.

"HP holds itself to the highest standards of business conduct and we are accountable to these standards for everything that we do," he said. "The company will work to put these matters behind us so that we fully resume our focus on the business and continue to earn the trust and support of our customers, employees and stockholders."

The IDG News Service contributed to this report.