Analysts Say Oracle CEO Mark Hurd’s Medical Leave Is A ‘Huge Blow’

Oracle CEO Mark Hurd’s sudden and unexpected announcement that he was going on medical leave is a potential setback for Oracle, analysts said Wednesday. Specifically, they said, Oracle’s sales strategy could suffer without Hurd at the helm, even as the company renews its efforts around cloud computing.

Hurd said he was taking time off “to spend time focused on my health.” Oracle has not offered any details on the reason for the medical leave or how long he was expected to be away. Safra Catz, Hurd’s co-CEO, will split Hurd’s duties with the Larry Ellison, Oracle’s cofounder and chief technology officer, the company said.

Hurd did not join Catz or Ellison on the call to announce the company’s fiscal first-quarter results. The call had originally been scheduled for Thursday. “We felt it made sense to share all of our news at once,” Catz said.

Read the full article here.

previous post Back to Articles next post

01 Dec 2023

Insight Acquires SADA

Financial Information ($USD) Purchase Price: $410 million cash free debt free Earnout: Up to $390 million with a target of $210 million EV/EBITDA: Approximately 11.3x, based on purchase price plus target earnout and $55 million of EBITDA  Transaction Details Insight Enterprises (NASDAQ: NSIT) today announced it has completed a $410M acquisition of SADA, a leading...

22 Feb 2023

How Microsoft Channel Partners Can Command High Valuations

In today’s rapidly changing ecosystem, simple organic growth doesn’t give Microsoft Channel Partners long-term competitive advantage.   During the last five years, Microsoft Channel Partners have commanded high valuations due to strong and sustainable business models, as well as a track record of profitability. Most were small mid-market businesses that had to decide to be...

18 Jan 2023

IT Industry Titan John McKenna Announces Retirement 

Congratulations to John McKenna, CEO of ConvergeOne, who announced his retirement today after 14 years at the helm. John has been an integral part of the IT industry for more than 30 years, and his leadership, dedication, and hard work have set the gold standard as a titan in our industry.   John’s tenure at...