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Oracle CEO Mark Hurd To Take Leave Of Absence For Health Reasons

This article is more than 4 years old.

Topline: Oracle CEO Mark Hurd is taking a leave of absence from the company due to a health issue, Oracle said Wednesday.

  • Larry Ellison, Oracle’s founder and chief technology officer, and the company’s other co-CEO, Safra Catz, will take over Hurd’s responsibilities.
  • It’s unclear how long the medical leave of absence, which was granted by Oracle’s board of directors, will last.
  • Oracle shares were down more than 2% in after-hours trading.
  • The business software giant employs 180,000 people.

Oracle could not be reached for further comment.

Crucial Quote: “Mark was extremely engaged with the business through the end of our just completed Q1, but now Mark needs to focus on his health,” Catz said.

Key Background: Hurd previously served as Hewlett Packard’s CEO for five years before resigning in 2010 after a sexual harassment investigation. A month later, he was appointed Oracle’s co-president.

Oracle’s stock has climbed to a record high of $60.50/share in 2019 as the company is making big bets on the cloud.

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