Earnings

Mark Hurd takes leave of absence

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Oracle said Mark Hurd, one of the software vendor’s two CEOs, is taking a leave of absence for health reasons, nine years after joining the company from Hewlett-Packard. The stock dropped in extended trading after the announcement.

Larry Ellison, Oracle’s founder and chief technology officer, will handle Hurd’s responsibilities along with Safra Catz, the other CEO. The company didn’t specify Hurd’s health issue or say how long he would be gone and a spokesperson didn’t immediately respond to a request for comment.

“Though we all worked hard together to close the first quarter, I’ve decided that I need to spend time focused on my health,” Hurd, 62, wrote in a message distributed to Oracle…



Source cnbc.com

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