Oracle boss takes time out for health reasons

Mark Hurd

“I decided I needed time to focus on my health,” Hurd said Wednesday.

(Photo: AP)

Redwood Shores The boss of SAP-Rivalen Oracle, Mark Hurd, has surprisingly announced a break. “I decided I needed time to focus on my health,” Hurd said Wednesday. He did not give any details. His duties will initially be taken over by Oracle founder and Tech board member Larry Ellison and co-CEO Safra Catz. Investors reacted nervously, the stock fell at times by around six percent.

In addition, Oracle submitted quarterly figures after the close of trading – one day earlier than originally planned. Thus, in the three months to the end of August, net profit fell six percent year-on-year to $ 2.1 billion (€ 1.9 billion). Revenue stagnated at $ 9.2 billion, despite strong growth in the cloud business. Among other things, Oracle created the strong dollar that diminishes foreign revenue after conversion into US currency.

More: US companies are buying back less of their own shares this year after the exceptional year of 2018. But a price collapse on the stock market does not threaten for a long time.

. (tagsToTranslate) Oracle (t) Mark Hurd (t) Investment Tip Share (t) Safra (t) SAP (t) Software Industry


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