Oracle Hires Mark Hurd as a Co-President
In a press release, Oracle (ORCL) Chairman Ellison said: "Mark [Hurd] did a brilliant job at HP [HPQ] and I expect he'll do even better at Oracle. There is no executive in the IT world with more relevant experience than Mark." Oracle already had two co-presidents, Charles E. Phillips Jr. and Safra A. Catz, but Philips is resigning, according to The New York Times.
Catz laid out a warm welcome for the incoming co-president, saying in a statement: "I look forward to working with him for years to come. As Oracle continues to grow we need people experienced in operating a $100 billion business."