Just few weeks after being fired from HP after a 5-year great track record, Mark Hurd was quick to land a top job at Oracle. Apparently, HP Board fired him because the expense reports he filed were inappropriate over a marketing assignment with a female consultant.
By hiring a talented CEO with deep knowledge of the enterprise hardware industry and dealmaking talent, Oracle’s efforts to compete head-on against HP, IBM and others in selling a variety of computing hardware will accelerate. Early this year, Oracle completed its purchase of sophisticated computer maker Sun Microsystems for about $7 billion after IBM and HP dropped out of the bidding process. With Hurd on board Oracle can better inetgrate and achieve synergies with Sun acquisition and may make more hardware acquisitions. Co-President Phillips said that they had billions earmarked for more acquisitions over the next 5 years.
Terms of the expected employment offer had yet to be finalized by the Board by sunday according our industry contracts in the Silicon Valley. Oracle has two co-presidents, former Wall Street analyst Charles Phillips and Safra Catz, a former investment banker who also served as Oracle’s chief financial officer until 2008. In my opinion Mark Hurd may get the leading role as President while Ellison staying on as Founder and CEO.
Larry Ellison is friends with Mark Hurd and has supported him in public comments, calling his dismissal “the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago”. I tend to agree with Larry that HP Board was to quick to dismiss its best performing CEO in the midst of a massive consolidation and industry's shift to cloud computing.
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