Hurd may join Oracle
By Jordan Robertson |
September 7, 2010, Tuesday
|
Print Edition
Print Edition
FORMER Hewlett-Packard Co CEO Mark Hurd is in talks to take a top executive job at Oracle Corp, the database software maker run by his friend Larry Ellison, a person with direct knowledge of the discussions said.
It wasn't immediately clear what job Hurd would take. But the person said on Sunday that Ellison, the only person to serve as Oracle's CEO since he founded the company 33 years ago, wouldn't be leaving that post. This person emphasized that the talks were not yet finalized.
The possibility of Hurd landing at Oracle isn't a surprise. Ellison was vocal in coming to Hurd's defense after Hurd's sudden resignation on August 6 in the wake of a sexual harassment investigation.
Hurd's resignation was stunning because he was widely praised on Wall Street.
Investors praised his cost-cutting; HP announced about 50,000 job cuts over the five years Hurd was CEO. Wall Street also liked that he engineered more than US$20 billion in acquisitions, which helped HP reduce its dependence on printer ink for the bulk of its profits. HP is now a major player in technology services and computer networking.
Those traits could help Hurd at Oracle, which is also known for aggressive deal-making and cost cuts.
Hurd would also join Oracle at an interesting juncture for both companies.
Oracle, the No. 1 database software maker, and HP, the No. 1 personal computer and printer maker, are longtime partners that are increasingly squaring off against each other. Oracle's US$7.4 billion acquisition of Sun Microsystems last year made it a competitor to HP in the market for computer servers.
It wasn't immediately clear what job Hurd would take. But the person said on Sunday that Ellison, the only person to serve as Oracle's CEO since he founded the company 33 years ago, wouldn't be leaving that post. This person emphasized that the talks were not yet finalized.
The possibility of Hurd landing at Oracle isn't a surprise. Ellison was vocal in coming to Hurd's defense after Hurd's sudden resignation on August 6 in the wake of a sexual harassment investigation.
Hurd's resignation was stunning because he was widely praised on Wall Street.
Investors praised his cost-cutting; HP announced about 50,000 job cuts over the five years Hurd was CEO. Wall Street also liked that he engineered more than US$20 billion in acquisitions, which helped HP reduce its dependence on printer ink for the bulk of its profits. HP is now a major player in technology services and computer networking.
Those traits could help Hurd at Oracle, which is also known for aggressive deal-making and cost cuts.
Hurd would also join Oracle at an interesting juncture for both companies.
Oracle, the No. 1 database software maker, and HP, the No. 1 personal computer and printer maker, are longtime partners that are increasingly squaring off against each other. Oracle's US$7.4 billion acquisition of Sun Microsystems last year made it a competitor to HP in the market for computer servers.
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