Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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

Index Last Change % Change
Dow 18,570.85 53.62 0.29%
Nasdaq 5,100.16 26.26 0.52%
S&P 500 2,175.03 9.86 0.46%
Treasuries 1.57 0.00 0.32%
Data as of 9:16am ET
Company Price Change % Change
Chesapeake Energy Co... 5.39 0.42 8.45%
General Electric Co 32.06 -0.53 -1.63%
Bank of America Corp... 14.38 0.11 0.77%
Southwestern Energy ... 14.47 1.26 9.54%
PayPal Holdings Inc 37.42 -2.71 -6.75%
Data as of Jul 22
Sponsors

Sections

HSBC banker arrested at JFK airport as he prepared to leave the country. He and former trader face federal charges they manipulated currency trades. More

With one exception, every vice presidential candidate in the past 40 years has released a tax return. Given that Donald Trump hasn't released his tax returns, will Mike Pence be the second exception? More

The augmented reality app had more iOS downloads its first week than any other app in history. More