Home / Business / Mark Hurd, Oracle co-CEO, dies 62 years

Mark Hurd, Oracle co-CEO, dies 62 years



Mark Hurd, co-manager of Oracle, one of the world's best enterprise software companies, until he stepped aside last month for health reasons, died Friday. He was 62.

The company confirmed Hurd's death to CNBC but refused to make a statement. In an email from CNBC, Oracle chairman Larry Ellison informed employees that Hurd had died early in the morning.

"Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle," Ellison wrote. "All of us will lack Mark's keen mind and rare ability to analyze, simplify and solve problems quickly. Some of us will miss his friendship and mentoring. I will lack his kindness and humor."

Hurd announced a leave of absence from Oracle in September due to unspecified health reasons. The Oracle share had increased by about 37% since he and Safra Catz were appointed CEO in September 201

4.

"Although we all worked hard to close the first quarter, I have decided that I must spend time focused on my "I love Oracle and wish you every success in my absence."

During Hurd's five years as Hewlett-Packard's CEO in 2005 to 2010, its share price more than doubled. His service was not He became head of Oracle, one of the world's leading enterprise software companies, despite leaving HP after a sexual harassment claim.

First, the 2006 "scam" scandal broke over attempts to determine who at HP leaked information Outside the investigators, who pretended to be the people they were researching, presented the last four figures in the social security number for board members and news reporters to telephone operators to get information about their telephone calls. [19659002] "While many of the right processes were in place, they were unfortunately broken down and no one in the management chain, including me, caught it," Hurd said during a conference call with reporters at the time. Board members left, federal agencies began investigations and Hurd testified before a congressional committee. HP agreed to pay $ 14.5 million in a settlement with the US attorney.

HP's share prices dropped 8% after the tech company announced its 2010 departure amid a claim of sexual harassment against him. HP concluded that although Hurd had not violated the company's sexual harassment policy, he did not meet its standards.

In a letter to Hurd, Attorney Gloria Allred described his meetings with Oracle contractor Jodie Fisher in various cities and said that he had made unwanted advances to his client. Hurd's expense reports included meals with his security guard, Denis Lynch, but the meals were with Fisher, and with time most of HP's board members came to feel that they had lost confidence in him, The Wall Street Journal reported. Hurd settled with Fisher, who had once modeled for the Playboy magazine, for unconditional terms.

Larry Ellison, then CEO of Oracle, quickly came to Hurd's defense. The two were good friends, and Hurd had often played tennis at Ellison's home in Silicon Valley, The New York Times reported. After Hurd's departure, Ellison criticized HP's board in a letter to the newspaper saying it had "only made the worst personnel decision since the idiots on the Apple board dismissed Steve Jobs many years ago."

Within a month, Hurd had a new job, as president of Ellison's company with Catz.

"Mark did a brilliant job at HP and I expect he will do even better at Oracle," Ellison said in a statement then. "There is no executive in the IT world with more relevant experience than Mark. Oracle & # 39; s future is the design of complete and integrated hardware and software systems for the company. Mark was groundbreaking in hardware integration with software when Teradata was part of NCR. " [19659002] Four years later, Hurd and Catz were named Oracle & # 39; s CEO and Ellison became chief technology officer. The company did not consider them as co-CEOs.

When announcing Hurd's absence, the company said that Catz and Ellison would take Hurd's responsibility.

Mark Vincent Hurd was born in New York on January 1, 1957. His father was according to the Financial Times financier and his mother was a medical daughter according to Fortune. Hurd spent his childhood in New York and Miami. He started playing tennis in high school.

He was accepted at Baylor University in Waco, Texas, on a tennis scholarship and played on the Christian school's tennis team.

Hurd graduated in 1979 with a bachelor's degree in business administration.

He joined ATM and the cash company NCR as a junior salesman in San Antonio in 1980, and in 1990 he married his wife Paula, who was an executive of NCR. He was named CEO in 2003. Two years later, he moved to Silicon Valley to become HP's new CEO.

While he was CEO of Oracle, he was considered a candidate for CEO of Microsoft, the Wall Street Journal reported. [19659002] At the time of his absence from Oracle, he sat on Baylor's board of regents. The shepherds have given Baylor money, and the university is planning a welcome center with their name.

Survivors include his wife and daughters Kathryn and Kelly.

Read the full email to employees announcing Hurd's death below:

It is with a deep sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd died early tomorrow. Mark was my close and unchanging friend and trusted colleague. Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle. All of us will lack Mark's keen mind and rare ability to quickly analyze, simplify and solve problems. Some of us will miss his friendship and mentorship. I will miss his kindness and humor. Mark leaves his beloved wife Paula, two wonderful daughters who were the joy of his life, and his much larger extended family here at Oracle who loved him. I know many of us are troubled right now, but we are left with memories and a sense of gratitude … that we had the opportunity to get to know Mark, the opportunity to work with him … and become his friend.

– CNBC's Will Feuer contributed to this report.

SE: So here's how to be the CEO of a $ 200 billion company


Source link