Analysts said Oracle CEO Mark Hurd’s surprising announcement that he is taking a medical leave is a setback for the tech giant.
Oracle did not offer details for Hurd’s leave, though the company held its earnings call a day ahead of schedule to make the announcement.
“This is a huge blow,” analyst Patrick Moorhead told Business Insider. IDC President Crawford Del Prete said it was a “tough situation” for Oracle. “Mark is the face of Oracle’s salesforce.”
It comes as Oracle aggressively pushes to play a larger role in the cloud computing market, which is dominated by players like Amazon Web Services and Microsoft Azure.
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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 while Hurd isn’t at the helm, even as the company renews its efforts around cloud computing.
Hurd said he is 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 is expected to be away. Safra Catz, Hurd’s co-chief executive, will split Hurd’s duties with CTO and founder Larry Ellison, 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. Catz said, “We felt it made sense to share all of our news at once.”
The call focused mainly on the company’s financial results, even though Hurd’s leave comes at a critical time for Oracle. The Silicon Valley behemoth is set to hold its annual Oracle OpenWorld convention in San Francisco next week, and is making an aggressive bid to play a bigger role …read more
Source:: Business Insider