HP now totally cool with Hurd at Oracle, especially now that they've got their $30 million back. [Updated] | webOS Nation
 
 

HP now totally cool with Hurd at Oracle, especially now that they've got their $30 million back. [Updated] 18

by Derek Kessler Mon, 20 Sep 2010 6:41 pm EDT

Larry Ellison, Mark Hurd

It seems that HP and Oracle have kissed and made up, with HP now okay with former CEO Mark Hurd taking a position as Co-President at Oracle. While neither party is releasing the details of the settlement, HP said in a statement that “Mr. Hurd will adhere to his obligations to protect HP’s confidential information while delivering the best products and solutions to their more than 140,000 shared customers.” Considering that HP and Oracle have been working together for more than 25 years, it’s little surprise that cooler heads prevails in the boardrooms. And Larry Ellison said there was no way we could still get along.

UPDATE: The Associate Press notes that the agreement between Hurd and HP was also contingent upon HP getting their money back. Hurd received approximately $30 million in severance pay and options, which he will be returning to HP. Hurd took advantage of the newfound goodwill by taking the stage at Oracle's annual conference to show off a new server the company was debuting.

Source: Business Wire, MSNBC; Via: Engadget

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18 Comments

Wow. Six articles today and all but two of them are about People working in all these different companies.

And I'm not saying FIRST. Thats stupid.

Slow news day; what're you gonna do?

but you did say first.. Lmao

I'm not proud of it. lol

Very rich people throwing feathers at each other. Nothing to see here. Move along...

If they were using the feathers in a titilating manner... That would be front page news (and reason to convene a special session with the board).

I'm waiting for Hurd to cut Oracle's way to growth the way he did at HP. I'm sure that his style will fit in well with Ellison's people. Good luck, Oracle!

What short memory (and inability to look up facts) people have here. From FY2006 to FY2008, revenues grew from $91.7B to $118.4B (a 29% increase), and net income grew from $6.2B to $8.3B (a 34% increase). Revenues and net income for FY2009 shrank to $114.5B (-3.3%) and $7.7B (-7.3%), respectively, but that happened to a lot of companies in that time frame.

He was also considerably better than Fiorina in how he handled the tech people, though he was not as good as the original few leaders in the first half-century of the company's existence.

I know I am happy to already be an Oracle investor. Hurd going there did not change my mind.

As an HP employee, I'm exposed to more than the numbers that the company publishes. He forced people to doing some truly stupid things for the sake of getting those numbers, which are like an aging model on botox - still attractive but not completely real. Let's just say that a lot of folks are happy he's gone.

I will be surprised if you dont see a mass exodus of Oracle employees. Mark Hurd's reputation precedes him. Just ask the Palm employees that have jumped ship. Stock holders love him but HP has a hole to dig out of because of him.

30 million dollars? Really, HP? Considering they bought like three companies for a billion and a half dollars each in the last two months, it seems kind of insignificant.

lame

If I had 30million in severance money, I wouldn't work the rest of my life, hell with giving it back and going back to work.

that dude has a 50 million dollar house he has to pay for ...lol... He can't afford to not work.

that looks like a photoshop job, no way it could be that thin.. although it would be nice if it was...

Fascinating reading. This article says Hurd did not have a No Compete Clause in his contract as they are generally unenforceable in California. His agreement w/HP did include a 2 year confidentiality agreement. The article suggests HP had a weak case against Hurd & Oracle, but this allows them to save face & claim a small victory.

http://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStor...