Oracle CEO Mark Hurd to take a leave of absence for health reasons

Mark Hurd, CEO of Oracle.Mark Neuling | CNBCOracle shares fell as much as 5% on Wednesday after the company reported earnings one day earlier than expected and said that co-CEO Mark Hurd is taking a leave of absence. »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, » Hurd was quoted as saying in a statement. « 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. » Larry Ellison, founder and chief technology officer of Oracle, said he wishes Hurd a speedy recovery.Oracle didn’t immediately respond to a request for comment.This is breaking news. Please check back for updates.

Source: CNBC

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