Estimated reading time: 1 minute, 1 second

ORACLE CEO HURD OUT WITH ILLNESS Featured

Oracle Co-CEO Mark Hurd has removed himself from the software company's operations while he battles an un-specified, but apparently long-term illness. The company announced this week that chairman Larry Ellison and co-CEO Safra Catz will take over his duties.

“Mark was extremely involved with business. through the end of the quarter, now he must take care of himself and his illness,” Catz said during this week’s webcast for earnings for the first quarter ended August 31. The company moved up its earnings report after a call from Bloomberg News triggered Oracle’s decision to disclose the illness, which Bloomberg said had affected Hurd for more than a year and other reports said it had been an open secret in Silicon Valley. Oracle did not disclose the nature of the illness, but in an opinion peace, Bloomberg author, Shira Ovide wrote that during the last year,“Oracle officials gave different explanations over the past year and a half for why Hurd skipped events or why his appearance seemed to change.” Ovide criticized Oracle for failure to go public earlier. While companies aren’t required to make such a disclosure, the article continued, “It was a humane personal decision, but it was the wrong corporate one.”

Read 1544 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.