Monday, September 06, 2010

One month after HP ouster, Mark Hurd hired by Oracle

It's good to have powerful friends, as Mark Hurd, ousted CEO at HP can attest to. Late Monday, Oracle announced Hurd was joining the company as co-president, a move that had been rumored for the past few days.

In snatching up Hurd, Oracle CEO Larry Ellison, a close friend of Hurd's, hopes to capitalize on HP's move, which last month he called “the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago.” With that, Hurd was hired by Oracle exactly one month to the day after he resigned from HP, after an investigation into his relationship with a marketing contractor. Jodie Fisher, turned up "questionable" expense reports. Fisher worked for Hurd's office from 2007 through 2009.

However, with Hurd at the helm, HP surged in both terms of its stock price and its performance as a company. Larry Ellison believes that Hurd will do no less for Oracle. In a statement announcing Hurd's hiring, Ellison said, "Oracle's future is engineering complete and integrated hardware and software systems for the enterprise. There is no executive in the IT world with more relevant experience than Mark."

To make room for Hurd, Charles Phillips, one of Oracle's co-presidents along with Safra Catz has resigned, and given up his seat on the board. Ellison noted in his statement that Phillips had asked to leave the company last December. “We will miss his talent and leadership, but I respect his decision," said Ellison.

Ironically, earlier this year Phillips was reportedly close to becoming CEO of software maker CA, only to fall victim to his own scandal. A woman he had been having an extramarital affair with put up a Web site and billboards detailing the relationship.

This story was first posted as "Oracle Announces Mark Hurd Hired as Co-president" at HULIQ.com, by the same author.



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