Oracle Corp Chief Executive Officer Mark Hurd is taking a medical leave as announced by the company but did not reveal specific details about the CEO’s health concern and the duration of his leave.
In a report by Computerworld, Hurd’s co-CEO Safra Catz and Chief Technology Officer Larry Ellison will cover Hurd’s responsibilities during his indefinite leave. Hurd will continue to receive all employment benefits during his leave according to the company.
Meanwhile, in a report by Markets Insider, the business software maker also posted first-quarter revenue where stock fell as much as 6% alongside the announcement of Hurd’s leave.
The company announced earnings per share of $0.81, beating analysts’ $0.807 estimate and its revenue did not meet analysts’ $9.29 billion estimate as the Oracle brought in only $9.22 billion.
Catz said in a statement: “Mark was extremely engaged with the business through the end of our just completed Q1, but now Mark needs to focus on his health.”
Hurd served as Oracle’s CEO for five years and was responsible for the company’s sales organization, advertising and software groups. He first joined the company as president in 2010, after having served as Hewlett-Packard’s CEO.
(Photo source: markets.businessinsider.com/ livemint.com)
