The rumors are true—former Hewlett-Packard CEO Mark Hurd is joining Oracle as co-president, replacing Charles Phillips. Oracle CEO Larry Ellison expressed his pleasure, saying, “Mark did a brilliant job at HP and I expect he’ll do even better at Oracle,” And, of course, analysts are excited that a known cost-cutter and short-term profit specialist is joining Oracle. A UBS analyst tells Bloomberg: “It’s a great fit: As Oracle transitions from a software to a hardware company, who better than him?”
The move sets up a competition between Hurd and Safra Catz who Ellison has referred to in the past as his likely replacement as CEO. Hurd left HP under a cloud last month after settling a sexual harassment claim and being accused of falsifying expense records. Read the full article.