Mark Hurd, one two CEOs leading the software giant Oracle, is taking a leave of absence owing to health reasons, he told employees in a letter today. Oracle has not specified what Hurd’s health issue is or how long he is expected to be away.
Hurd joined Oracle nine years ago, after spending five years with Hewlett-Packard where he was CEO, president, and, ultimately, board chairman, all roles from which he was pressured to resign in 2010 after submitting inaccurate expense reports designed to conceal his “close personal relationship” with a female contractor who helped with H-P’s marketing.
The news shocked many outsiders given Hurd’s performance, which saw the shares of H-P double on his watch. Hurd left with $12,224,693 in severance; the very next month, Larry Ellison, a friend of Hurd, named him the co-president of Oracle, the company Ellison had himself founded in the summer of 1977.
Said then-CEO Ellison in a statement at the time, “Mark did a brilliant job at H.P., and I expect he’ll do even better at Oracle. There is no executive in the I.T. world with more relevant experience than Mark.”
Indeed, when Ellison stepped down as the CEO of Oracle in 2014 to become the company’s …read more