Oracle and Hewlett-Packard are two of Silicon Valley’s most venerable corporations, and its CEO, Mark Hurd, has passed away. He was 62. On Friday, Larry Ellison, founder and chairman of Oracle, said Hurd had passed away.
Saddened by the loss of Mark Hurd. He was a self-made success in the industry & presided over mega accomplishments. While we competed vigorously in the market, we enjoyed professional respect. My heartfelt prayers are with Mark’s family on this solemn day.
— Bill McDermott (@BillRMcDermott) October 18, 2019
“Mark was my close and irreplaceable friend, and trusted colleague,” Ellison said in a memo to Oracle employees that was posted on Mark Hurd’s personal website. “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 analyze, simplify and solve problems quickly.”
Hurd has been absent from Oracle (ORCL) for the past month due to health concerns. In a memo to staff, he explained his decision: “I’ve decided that I need to spend time focused on my health.” Since 2014, he served as the company’s CEO and a member of the board of directors. Together with Safra Catz, he held the position of chief executive officer. After Hurd left, Ellison took over his duties.
One month after Hurd resigned as CEO of Hewlett-Packard in 2010 due to sexual harassment claims, he began working for Oracle. According to HP’s lawsuit, he hid his “personal relationship” with marketing contractor and actress Jodie Fisher from the board.
Ellison, CEO of Oracle, publicly criticised HP’s decision to terminate Hurd in 2010, calling it “the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago.” Then he promoted Safra Catz to vice president and brought Hurd on as president.
Following the allegations, HP (HPQ) stated in a regulatory filing that an independent inquiry “determined that there was no violation of HP (HPQ)’s sexual harassment policy, but did find violations of HP (HPQ)’s Standards of Business Conduct.” According to the press release issued by HP (HPQ), Hurd admitted, “there were instances in which I did not live up to the standards and principles of trust, respect, and integrity that I have espoused at HP (HPQ).”
Hurd left HP with $12 million in cash and many of his stock options were already exercised.
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The Approach To Oracle
Oracle is a major competitor to HP, and the two firms have a long history of legal disputes and general animosity. The selection of Hurd caused some controversy in the tech industry. HP didn’t make it simple for Hurd to make the switch; the company actually sued Oracle to prevent Hurd from making the move.
After Hurd left the company in 2010, HP filed filings claiming he endangered the company’s “most valuable trade secrets and confidential information.” However, with the rise of competition from cloud computing giants like Amazon (AMZN), Microsoft (MSFT), and Google (GOOGL), Oracle needed a seasoned sales professional. The Oracle database and middleware suites seemed particularly archaic as a result.
Oracle has made significant progress in catching up to the competition in the cloud computing space since Hurd joined the firm. He also foresaw the industry’s migration to the cloud by launching a programme to hire new college graduates as Oracle salespeople.
According to his website, Hurd was born in New York City in 1957, specifically on the Upper East Side. His high school years were spent in Miami, Florida. He attended Baylor University in Texas, where he earned a BA in marketing management and also played tennis and served as fraternity president.
The CEO of NCR, maker of ATMs, is credited with starting his career in 1980 as a lowly salesman. In 2003, after years of hard effort, he was promoted to CEO. In 2005, he succeeded Carly Fiorina as CEO of HP. After joining Oracle in 2010, he was named CEO the following year.
While Catz was in charge of the company’s finances, legal matters, and day-to-day operations, he controlled Oracle’s product sales and marketing. Hurd and Paula were married for almost 30 years. Paula was a top executive at NCR, where he also worked. The Bay Area was home to the couple and their two daughters.
