After the untimely passing of Oracle co-CEO Mark Hurd in October, Larry Ellison has announced that Safra Catz will assume that role moving forward. After her co-CEO Mark Hurd passed away in October, Larry Ellison stated that Safra Catz would continue to lead Oracle on her alone.
The software titan made the news alongside its second-quarter results, which showed a 1 per cent drop in profits and a 1 per cent increase in revenues.
“We have no plans for having a second CEO, it was an unusual situation,” Oracle co-founder and chairman Ellison was quoted as saying by Computing. “Mark and Safra were a fantastic team, but we have complete confidence in our existing team.”
Mark Hurd Cancer
The former HP CEO had previously said he would be taking time off from Oracle to deal with undisclosed health difficulties, and this news confirms his decision to do so.
“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 wrote to Oracle staff in September. “At my request, the Board of Directors has granted me a medical leave of absence.”
After that, Hurd expressed his affection for Oracle and hoped for the company’s continued success in his departure. Mark Hurd served as Oracle’s co-CEO alongside Safra Catz.
After Oracle co-founder Larry Ellison stepped down as CEO in 2014 to focus on his role as Executive Chairman of the Board and Chief Technology Officer (CTO), the two managed the company for the next five years.
Although Hurd’s condition was kept secret, it was later revealed to be cancer, and it turned out to be fatal; five weeks after stepping down, on October 18, 2019, Mark Hurd passed away at the young age of 62. The news was broken by Larry Ellison on Mark Hurd’s personal website.
BREAKING: Oracle, in an internal email, says co-CEO Mark Hurd has died – Reutershttps://t.co/jn8limUSe7
— CNBC Now (@CNBCnow) October 18, 2019
“It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning,” wrote Ellison. “Mark was my close and irreplaceable 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 miss Mark’s keen mind and rare ability to analyse, simplify and solve problems quickly. Some of us will miss his friendship and mentorship,” he added. “I will miss his kindness and sense of humour.”
Paula, his wife, and their two kids outlived Hurd.
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Former Head Of HP
In the world of technology, Hurd is a household name. He led Hewlett-Packard Co. as CEO from 2005 to 2010. However, Hurd joined Oracle in 2010 at a low point in his life, when Ellison hired him a month after he had resigned as CEO of HP due to se*ual harassment claims.
Hurd was never formally accused of anything, but the HP board of directors concluded that his falsified expense records were in violation of company policy. Hurd was praised for his work in stabilizing HP’s finances during his five years there, but he also received criticism for depending too much on cost-cutting to achieve his aims.
Ellison swiftly hired Hurd as Oracle president, and Larry harshly criticized the HP board of directors, comparing their decision to dismiss Hurd to Apple’s dismissal of founder Steve Jobs in the mid-1980s.
Frequently Asked Questions about Mark Hurd’s Passing:
Q1: When did Mark Hurd pass away?
A1: Mark Hurd passed away on Friday, October 18, 2019.
Q2: Did Mark Hurd succumb to cancer?
A2: Yes, he did.
Q3: What type of cancer claimed his life?
A3: The specific type of cancer remains undisclosed.
Q4: What are the names of Mark Hurd’s daughters?
A4: His daughters are named Kathryn and Kelly.
Q5: Was Mark Hurd a member of Phi Delta Theta?
A5: Indeed, he was.
Q6: When did Mark assume the role of President at Oracle Corporation?
A6: He became President on September 6, 2010.
Q7: What was Mark Hurd’s net worth in 2019?
A7: Mark Hurd’s net worth in 2019 was estimated at $150 million.
