Mark Hurd Named President of Oracle

Ousted HP CEO has new job

By Scott Budman
|  Monday, Sep 6, 2010  |  Updated 6:45 PM PDT
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Mark Hurd and other corporate big wigs get golden parachutes. The rest of us get pink slips.

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Mark Hurd didn't stay unemployed very long.

Just weeks after resigning in semi-disgrace from the top job at Hewlett Packard, Hurd has signed on, as President of Silicon Valley software giant Oracle.  The company says he'll report directly to Oracle Chief Executive Larry Ellison.  He'll also get a seat on Oracle's Board of Directors.

Hurd stepped down as HP's CEO after an allegation of sexual harassment was brought by a former HP contractor.  Hurd was cleared of the harassment charge, but during the investigation, it was discovered that Hurd submitted false expense reports, and he resigned.  Now, not long after the headlines trumpeted Hurd's $30 million split from the company he helped bring back, he's on to a new job.

According to Ellison, "Mark did a brilliant job at HP and I expect he'll do an even better job at Oracle."  The software giant also says now former President Charles Phillips resigned his post, making room for Hurd.

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