Oracle chief slams HP Board for forcing CEO out
- 10 Aug 2010 09:04 (South Africa)
Oracle CEO Lawrence J. Ellison wrote an email to the New York Times, slamming HP's decision to force the resignation of CEO Mark Hurd. Ellison said that it was the worst personnel decision since the Apple board pushed Steve Jobs out the company in 1985, only to rehire him in 1997 to save the faltering company. Ellison raised the corporate governance issue, saying that the HP board had failed to act in the interests of their employees, shareholders, customers and partners. Hurd was forced to resign from the company after a sexual harrassment complaint against him unearthed expense claims he had falsified in order to hide a "close personal relationship" with a contractor. The sexual harrassment case has since fallen away, and Hurd walks away with a $34.6 million handshake. Read more: Reuters and the NY Times.