Oracle hires former HP CEO Mark Hurd

Before you go, we thought you'd like these...
Before you go close icon
Oracle hires former HP CEO Mark Hurd - Hurd here Ok signTechnology giant Oracle has hired as its new president Mark Hurd, the former chief executive of Hewlett-Packard, who resigned amid a scandal.

Hurd will replace Charles Phillips, who has resigned, Oracle said in a statement on Monday. Phillips was co-president alongside Safra Catz, who will remain.

Hurd is a close friend of Oracle CEO Larry Ellison, who had publicly disparaged HP's decision to oust Hurd, who resigned from HP on August 6 after a probe into sexual harassment allegations. HP said at the time Hurd filed inaccurate expense reports related to Jodie Fisher, a marketing contractor who worked for Hurd's office from 2007 through 2009.

"Mark did a brilliant job at HP and I expect he'll do even better at Oracle," said Oracle CEO Larry Ellison in a statement.

Shares of HP (HPQ) are down 13% since Hurd's resignation. Oracle is the world's third largest software maker and competes with HP as well as with IBM and SAP.
Read Full Story

Markets

S&P 500 2,205.96 1.25 0.06%
DJIA 19,207.94 -8.30 -0.04%
NASDAQ 5,313.75 4.85 0.09%
DAX 10,760.54 75.71 0.71%
HANG SENG 22,675.15 169.60 0.75%
NIKKEI 225 18,360.54 85.55 0.47%
USD (per EUR) 1.07 0.00 -0.22%
USD (per CHF) 1.01 0.00 0.24%
JPY (per USD) 113.96 0.10 0.09%
GBP (per USD) 1.27 0.00 -0.11%

From Our Partners