CEO transformed Oracle into a force in cloud computing
‘Brilliant and beloved leader’ was head of three major tech companies in his career
Mark Hurd, who was chief executive officer of three major technology companies including Oracle Corp., has died. He was 62.
Larry Ellison, Oracle’s chairman, confirmed his passing online.
“It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning,” Ellison wrote. “Mark was my close and irreplaceable friend, and trusted colleague. Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle.”
Hurd was CO-CEO at Oracle with Safra Catz. He focused on sales, marketing and press and investor relations, while she ran finances and legal matters. Oracle announced Sept. 11 that Hurd had begun a leave of absence for unspecified heath-related reasons and that Catz and Ellison would assume his responsibilities during his leave. The company couldn’t immediately be reached for comment Friday.
Hurd began his career in 1980 as a salesman for National Cash Register Corp. (now NCR), before rising in the ranks to the CEO post. In 2005, he was hired away as CEO by Hewlett-packard Co., then the world’s biggest personal-computer maker. Hurd joined Oracle as a co-president in 2010, after resigning from HP when it determined he violated company standards by filing inaccurate expense reports to conceal a personal relationship with a contractor.
During his Oracle tenure, Hurd produced solid revenue and profits as the Redwood City, Calif.-based company’s stock price hit a historic high in 2019. He was also a key driver in Oracle’s turn from an old model of licensing software toward the use of cloud computing, a burgeoning business dominated by rivals Amazon.com Inc. and Microsoft Corp.
When he hired Hurd, Ellison said, “There is no executive in the IT world with more relevant experience than Mark.” Ellison described Hurd’s dismissal by HP as the “worst personnel decision since the idiots on the Apple board fired Steve Jobs.”
Hurd reshaped Oracle’s sales force. Beginning in 2013, he implemented a “specialist” model that made each member an expert in a single product category. In that year alone, he hired more than 4,000 people to implement his idea.
He also created the “Class of” program that was designed to inject a startup feel into Oracle. College graduates were hired for a dedicated program that prepared them to become Oracle’s future sales leaders.
In 2014, Hurd and Catz were named co-ceos, while Ellison continued to serve as chairman of the board, orchestrate management changes and develop products as chief technology officer.
Hurd was regarded as the most media-friendly of the trio, frequently serving as the public face of the company to outline its goals. At the time Hurd and Catz were named CEOS, Oracle’s central business was selling software designed to run on gear owned by the customer and charging a license fee. Hurd was among those inside Oracle who saw the company’s future in cloud computing — which would let customers rent software and run their data on servers owned by vendors such as Oracle. He predicted in 2015 that by 2025 all enterprise data would be stored in the cloud and that 100 per cent of software development and testing would run through it.
Hurd led the charge to make Oracle one of the dominant cloud players, investing heavily in research and development and acquisitions, such as the US$9.3 billion purchase of Netsuite Inc., sometimes called the first cloud company, in 2016. Oracle also bought Eloqua Inc., a marketing software company, and Taleo Corp., which makes talent-management.
He secured significant deals with AT&T Inc., Bank of America Corp., and Qantas Airlines to transfer their existing databases to the cloud through Oracle. By late 2019, Oracle served more than 420,000 customers in 195 countries and territories, he said.
In 2007, Hurd was named one of Fortune magazine’s 25 most powerful business leaders. In 2008, the San Francisco Chronicle named Hurd CEO of the Year.