Oracle CEO Mark Hurd taking leave

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Mark Hurd on Oracle's strategy for growth

Oracle CEO Mark Hurd on the company's strategy for long-term growth.

Oracle Corporation announced that CEO Mark Hurd will take a leave of absence for health-related reasons without being specific.

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The disclosure, announced after the close of trading Wednesday, pushed the stock lower in the extended session.

TickerSecurityLastChange%Chg
ORCLORACLE CORPORATION52.20-0.67-1.27%

Hurd addressed colleagues in a memo released by the company.

To all my friends and colleagues at Oracle,
Though we all worked hard together to close the first quarter, I've decided that I need to spend time focused on my health.  At my request, the Board of Directors has granted me a medical leave of absence. 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.
I love Oracle and wish you all success during my absence.
 

Mark

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Oracle founder, Larry Ellison, wished Hurd a speedy recovery while also assuring investors that the tech company is in good hands with Co-CEO Safra Catz.

 
"Mark has requested a leave of absence from Oracle to address some health related issues and we all wish him a speedy recovery.....Oracle has an extremely capable CEO in Safra Catz and an extraordinarily deep team of executives, many with long tenure at Oracle. Safra and I will cover Mark's responsibilities during his absence with support from the rest of our strong management team....

Oracle Founder, Executive Chairman and Chief Technology Officer, Larry Ellison

The company also released earnings, posting a profit of $2.13 billion or $0.63 cents, about 6 percent less than the same period a year ago. Revenue was $9.22 billion, little changed.

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