Oracle hires former HP CEO Mark Hurd

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

DJIA 24,706.35 336.25 1.38%
NASDAQ 7,157.23 72.77 1.03%
NIKKEI 225 20,622.91 -96.42 -0.47%
DAX 11,114.31 -21.89 -0.20%
HANG SENG 27,005.45 -191.09 -0.70%
USD (per EUR) 1.14 0.00 -0.06%
JPY (per USD) 109.43 -0.24 -0.21%
GBP (per USD) 1.29 0.00 -0.01%
USD (per CHF) 1.00 0.00 -0.02%