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September 7, 2010

For Mark Hurd, a parachute AND a safety net

Hewlett Packard boss Mark Hurd resigned last month after the board learned that he fudged his expense accounts with regard to time spent with a female former reality-show contestant. Nobody was more critical of the defenestration than Oracle's Larry Ellison, who has now hired Hurd for one of the top three spots at Oracle, dispensing with President Charles Phillips.

We'll see how this one turns out. Hurd was used to being alpha dog at HP, but Ellison is one of the top egos in any industry, anywhere. There is also Safra Catz, who also holds the title of president. She's the former chief financial officer, also a potential heir to Ellison, and can't be especially happy about the hire. Separately the three are incredibly talented. Whether they can work together is very much an open question.

Here's my August column on Mark Hurd's golden parachute, which he was allowed to keep despite his behavior.

Posted by Jay Hancock at 9:12 AM | | Comments (0)
Categories: Executive Pay
        

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.
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