Mark Hurd lands at Oracle

By CNNMoney staff

NEW YORK ( -- Mark Hurd, who abruptly resigned last month as chief executive of Hewlett-Packard, has landed at another big tech company.

Oracle Corp. (ORCL, Fortune 500) announced late Monday that it had hired Hurd as a co-president, and that Hurd will sit on the company's board of directors.

Also on Monday, Oracle said that Charles Phillips had resigned his post as a co-president, as well as his seat on the board. Phillips had been a key member of Oracle's executive team since 2003.

Hurd will report to Oracle CEO Larry Ellison.

"Mark did a brilliant job at HP and I expect he'll do even better at Oracle," Ellison said in a statement. "There is no executive in the IT world with more relevant experience than Mark."

Ellison publicly stood behind Hurd and blasted the HP (HPQ, Fortune 500) board after Hurd's Aug. 6 exit.

At the time of his departure, Hewlett-Packard executives said that Hurd, who is married, failed to tell the board about a personal relationship with a female marketing contractor hired by his office. He filed inaccurate expense account reports in a bid to keep the relationship secret, HP said.

Jodie Fisher, an actress who had been employed as a contractor for HP, subsequently came forward and said that there had been no sexual relationship between them.

Hurd was credited with reviving Hewlett-Packard following the tumultuous tenure of his predecessor, Carly Fiorina.

"As Oracle continues to grow we need people experienced in operating a $100 billion business," said Safra Catz, who serves as Oracle's other co-president. To top of page

Index Last Change % Change
Dow 23,533.20 -424.69 -1.77%
Nasdaq 6,992.67 -174.01 -2.43%
S&P 500 2,588.26 -55.43 -2.10%
Treasuries 2.83 -0.00 -0.07%
Data as of 2:22pm ET
Company Price Change % Change
Micron Technology In... 54.21 -4.71 -7.99%
Bank of America Corp... 29.17 -1.38 -4.52%
General Electric Co 13.07 -0.28 -2.10%
Advanced Micro Devic... 10.63 -0.28 -2.57%
Facebook Inc 159.39 -5.50 -3.34%
Data as of Mar 23


McKinley County, New Mexico, has the nation's highest rate of Medicaid enrollment. People there say it is vital to battle daunting economic and public health challenges. More