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 24,461.70 -196.10 -0.80%
NASDAQ 7,712.95 -68.56 -0.88%
NIKKEI 225 22,516.83 -176.21 -0.78%
HANG SENG 29,338.70 42.65 0.15%
DAX 12,567.06 55.15 0.44%
USD (per EUR) 1.17 0.01 0.49%
USD (per CHF) 0.99 0.00 -0.18%
JPY (per USD) 110.06 0.11 0.10%
GBP (per USD) 1.33 0.00 0.35%