Mark Hurd Becomes Co-President of Oracle
Oracle Corporation (NASDAQ:ORCL) now has a new Co-President: Mark Hurd. Mark Hurd is the former CEO of Hewlett-Packard Company (NYSE:HPQ). Hurd quit HP one month ago after a board investigated him for a personal relationship with contractor Jodie Fisher. Fisher was a former actress who posed for Playboy in college.
Oracle Corporation CEO Larry Ellison is a personal friend of Hurd’s and he personally criticized HP’s board in an e-mail to The New York Times. Ellison went as far as saying that HP’s reaction was “the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago.”
“Mark did a brilliant job at H.P., and I expect he’ll do even better at Oracle,” stated Ellison. “There is no executive in the I.T. world with more relevant experience than Mark.” Other co-presidents at Oracle included Charles E. Phillips Jr. and Safra A. Catz. Phillips recently quit the board to make room for Hurd. Phillips asked to leave Oracle in December.
Hurd admitted to his affair after the woman he had been seeing put up a website and billboards that detailed everything that was going on. HP and Oracle have been partners for a long time, which helped strengthen Ellison and Hurd’s friendship. HP sells computer servers and storage systems with Oracle databases to many of their customers.
When Hurd was working at HP, he helped the company move past IBM as the largest technology company and showed some very consistent financial results.
[NYT]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry