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Mark Hurd lands at Oracle

By CNNMoney staff


NEW YORK (CNNMoney.com) -- 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

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