Oracle CEO Mark Hurd is taking a leave of absence due to health reasons, Oracle announced Wednesday, leaving the company in the hands of his co-CEO Safra Catz, as well as co-founder and CTO Larry Ellison.
“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 in a letter to Oracle employees. “As you all know, Larry, Safra and I have worked together as a strong team, and I have great confidence that they and the entire executive management team will do a terrific job executing the exciting plans we will showcase at the upcoming OpenWorld.”
In a statement, Ellison said that he and Catz will cover Hurd’s responsibilities, with support from “an extraordinarily deep team of executives.”
Oracle also announced its Q1 fiscal year 2020 results on Wednesday, a day earlier than expected. Results were effectively in line with market expectations.
The company reported non-GAAP earnings per share of 81 cents on revenue of $9.2 billion.
Analysts were looking for earnings of 81 cents on revenue of $9.29 billion.
Oracle shares were down in after-hours trading.
- Zoom delivers strong Q2 results, raises outlook
- HPE raises full year EPS targets after mixed Q3 results
- Okta, Nutanix, Zuora beat earnings estimates
- Workday beats Q2 estimates, raises subscription revenue outlook
- Dell Technologies delivers strong Q2 amid commercial PC sales
- Palo Alto Networks delivers strong Q4, acquires Zingbox for IoT security
- Box tops Q2 estimates, issues strong full year guidance
- HP names Lores CEO, reports solid Q3
- After cutting outlook, NetApp beats Q1 market estimates
- Mark Hurd, Oracle CEO who also led HP, dies at 62
- Report: Facebook CEO Mark Zuckerberg’s Relationship with Democrats Strained
- Facebook CEO Mark Zuckerberg says billionaires do not deserve to have “that much money”
- Facebook CEO Mark Zuckerberg’s testimony at the hearing before Senate Judiciary and Commerce Committees
- Congress shows Facebook CEO Mark Zuckerberg no mercy during Libra hearing
- Instagram refuses to remove video that mocks Facebook CEO Mark Zuckerberg
- McDonald's boss's £21MILLION takeaway: Sacked British CEO Steve Easterbrook leaves fast food giant with huge payout including stock options after admitting fling with colleague
- Facebook CEO Mark Zuckerberg left embarrassed after failing to answer simple questions from US Congress
- Facebook CEO Mark Zuckerberg rejects Trump bias claims
- Facebook CEO Mark Zuckerberg says the ‘future is private’