Oracle Corp posted its first-quarter earnings that went below Wall Street expectation and reported on Wednesday that it's Chief Executive Officer (CEO) Mark Hurd would go on medical leave.
Oracle’s first-quarter revenue fell to $2.14 billion coming from $2.27 billion from its last year counterpart, marking a 2% slide.
Hurd is only one of the two CEOs of Oracle, while Safra Catz is the other. Catz and company founder and Chief Technology Officer Larry Ellison will take charge and absorb the workloads as the company stated.
Hurd’s medical condition, which forced him to file a leave, was not divulged in public.
In September 2010, Hurd was appointed as co-president of Oracle.
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